A hedge fund startup that uses artificial intelligence to do work typically handled by analysts has outperformed the global stock market in its first six months while slashing research costs.
The Sydney-based firm, Minotaur Capital, was founded by Armina Rosenberg and Thomas Rice. Rosenberg previously managed a global equities portfolio for tech billionaire Mike Cannon-Brookes and ran Australian small-company research for JPMorgan Chase when she was 25. Rice is a former portfolio manager at Perpetual.
The duo’s bets on global stocks returned 13.7% in the six months ending January, versus 6.7% for the MSCI All-Country World Index. Minotaur has no analysts on staff, with Rosenberg saying AI models are far quicker and cheaper.