The Australian Financial Review recently featured our global equities fund in an article examining AI's economic impact and the computing infrastructure stock surge. We've just posted our best month in our two-year history, with our largest positions in semiconductor companies SK Hynix and Micron Technologies driving strong performance.
The article explores how AI agents are transforming equity research and portfolio management. We currently run 19 AI agents as part of our investment process, though our AI costs doubled in May compared to March. As Thomas Rice noted in the piece:
We've been working on this for two years now, and it's constant iteration.
The Australian Financial Review article highlights how our investment approach has evolved alongside AI advancement. Our agents now gather information and data, interpret it, and prepare investment theses that we can test, validate, and debate before making investment decisions. This demonstrates how AI agents have progressed significantly in six months, moving from simple information gathering to analytical capabilities.
Rice explained that companies can get real value from AI by becoming more thoughtful about mixing and matching models for various tasks—deploying open-source models broadly across an organisation while using more expensive and powerful models more selectively.
The piece positions our fund as an example of sophisticated AI integration in global equities strategies.
To read the article, click the link below.