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AI-Driven Fund Aims for $2 Billion, 15% Returns

12/27/2025

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Summary

Story summary

Miro Mitev began exploring AI in finance in the late 1990s after discovering neural networks at the Vienna University of Economics and Business.
He founded SmartWealth Asset Management, which relies entirely on AI for decision-making.
The latest IVAC fund targets $2 billion in assets and 14–15% annualized returns.
Mitev says that once a model is established, intervening is risky and trusting the model is crucial.

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Story summary

Miro Mitev began exploring AI in finance in the late 1990s after discovering neural networks at the Vienna University of Economics and Business.
He founded SmartWealth Asset Management, which relies entirely on AI for decision-making.
The latest IVAC fund targets $2 billion in assets and 14–15% annualized returns.
Mitev says that once a model is established, intervening is risky and trusting the model is crucial.