UK “First” launched a stock exchange fund, where shares choose AI

MC "First" launched the exchange-traded mutual investment fund (BPIF) "First - Artificial Intelligence Fund" with the ticker AIIQ. This is the first active management exchange fund in Russia, which uses multi-agent AI, capable of independently selecting shares for investment.

The work of the fund is built on the principle used by professional portfolio managers. AI agents analyze different types of data and then combine their findings into a single investment decision. At the same time, the final decision to buy shares is made by a person.

Andrey Bershadsky, General Director of the First Management Company, commenting on the launch of the fund, noted that the First Management Company is on the path of agentizing the operational processes of all business units of a modern asset management company, and the AI Fund is one of the projects on the way to creating an “autonomous Criminal Code”.

“We set out to make the most of AI and create a fully autonomous AI fund in the future.” For us, this is primarily an experiment necessary to understand the limits of the applicability of AI in the stock market, and we invite all market participants to follow it with us.

The fund invests in shares of Russian companies and reinvests the proceeds. The share price as of October 1, 2026 was .10.79. The purchase of shares does not require the status of a qualified investor.

Boris Blokhin, Senior Managing Director for Sales and Business Development of the Moscow Exchange, noted that artificial intelligence technologies are increasingly being used in the financial market, and the exchange is developing its own AI solutions and creating conditions for wider use of such technologies by market participants. According to him, there is a special potential in collective investment products.

“Expanding the use of AI in the financial market is one of the strategic tasks of the Moscow Exchange,” Blokhin said. He noted that the launch of the fund with AI models in management is a new opportunity for investors to test their strategies and compare their own choices with the results provided by technology.

How AI Chooses Stocks

The foundation is based on a multi-agent system of four specialized AI agents. Three of them independently analyze different types of data: portfolios of actively managed rival funds, fundamentals of companies and news. The fourth agent – the supervisor – combines the findings, resolves the contradictions and forms the final portfolio.

The competitive analysis agent studies the portfolios of actively managed mutual funds to find the ideas of other managers. The fundamental agent analyzes the financial indicators of issuers, including historical and forecast data, and the news agent assesses the background information and the significance of events for the value of assets.

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