Thu, Jun 4, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

DWS Group acquires 25% stake in Arabesque AI to attempt to predict stock price movements

Thursday, January 09, 2020

Laxman Pai, Opalesque Asia:

Deutsche Bank's asset management arm DWS Group has acquired 24.9% stake in a UK technology firm Arabesque AI Lt making use of artificial intelligence (AI) to attempt to predict stock price movements.

Terms of the deal were not disclosed. Both parties have agreed to maintain confidentiality on the price of the transaction and further financial details. Closing of the transaction has already taken place.

Through the deal, DWS, which has EUR 704bn ($782bn) assets under management, also seeks to strengthen its active management capability with a stock prediction engine, which combines big data, machine learning, and high-performance computing.

Besides, both companies have agreed on a strategic partnership to enhance the capabilities of the AI engine and to develop sophisticated AI-based investment solutions.

"The strategic partnership with Arabesque AI is the next step towards the digitalization of DWS. It will strengthen our digital capabilities and, in particular, our Artificial Intelligence know-how. We will be able to harness disruptive technology within the asset management industry for our advantage", said Asoka Woehrmann, CEO of DWS.

He added, "In the future, the AI engine will deliver innovative signals that will help us identify additional alpha sources, and will enable us to make smarter decisions."

Dr. Yasin Rosowsky, Co-CEO of Arabesque AI, said, "Artificial Intelligence is rapidly shaping global asset management, with......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing: Millennium hedge fund ups bet against Bank of Ireland, Value rotation was the last thing big funds thought would happen, Al Gore's firm sold Amazon and Microsoft stock. Here's what it bought.[more]

    Millennium hedge fund ups bet against Bank of Ireland From Independent: US hedge fund Millennium International Management has raised its bet against Bank of Ireland's shares. It comes as Davy says 2020 will be a write-off for banks, with losses across Irish lenders of €4bn. M

  2. PE/VC: Private equity in the Covid-19 crisis, Carlyle's Africa dealmakers leave to start their own buyout firm, UK asset managers plan shift to off-market strategies including private equity[more]

    Private equity in the Covid-19 crisis From Morning Star: Private equity investment trusts invest in unquoted companies not yet listed on the stock market. How have they fared in the sell-off? Investment trusts have been caught up in the market turmoil of recent months and private equit

  3. New Launches: Apeira Capital seeks $200m for hedge fund-like bets, PIMCO filing reveals ESG fund launch could be ahead, BEA Systems co-founder launches venture fund, Salesforce Ventures launches $125m Europe Trailblazer Fund, The D. E. Shaw group closes first onshore China investment fund, Legg Mason and ClearBridge launch non-transparent ETF, Hong Kong-based asset manager MaiCapital launches actively managed bitcoin hedge fund[more]

    Apeira Capital seeks $200m for hedge fund-like bets From Bloomberg: Natalie Hwang, the former head of Simon Property Group Inc.'s venture capital arm, has launched a new firm and is seeking $200 million for a debut fund. Hwang has been discussing the vehicle with prospective investors, ac

  4. New Launches: Hedge fund Angelo Gordon raising $1.5bn for distressed energy debt, Amundi unveils eight new funds as part of ESG ETF range push, Mezzanine Management gears up for direct lending fund[more]

    Hedge fund Angelo Gordon raising $1.5bn for distressed energy debt From Reuters: Hedge fund Angelo Gordon & Co aims to raise as much as $1.5 billion to buy the debt of distressed oil and gas companies, according to a person familiar with the matter and an investor presentation viewed by R

  5. Tech: Robos fail their first big test, 'Video is fine': Venture capitalists find the benefits in digital due diligence[more]

    Robos fail their first big test From Advisor Perspectives: Robo-advisors faced their first big challenge with the bear market in the first quarter of 2020. They lost, and that is an ominous sign for the future of automated advice. All robos employ a degree of active management. They