Data Science Investment Counter —Funding raised by UK data science companies in 2018.
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London £22.5Bn Hedge Fund Hires “Head of Machine Learning”

A London-based hedge fund controlling $28.8 billion (£22.5 billion) of assets is looking into machine learning, Business Insider reports.

Man GLG, a fund founded in 1995 and now active in eight countries, has inaugurated the new position of “head of machine learning”, who will be in charge of scaling up the company’s machine learning firepower— with particular regard to news and social media intelligence, market news, and data visualisation.

William Ferreira, previously a Senior Quantitive Researcher at  Florin Court Capital has been appointed to the role. Ferreira’s experiences include working as Technology Manager for Man AHL from 2011 to 2014, and previously as an executive director at JP Morgan and a Vice President at Merrill Lynch.

“I am excited about the opportunity to build Man GLG’s machine learning capabilities, developing tools to support the firm’s portfolio managers as they run high-conviction active portfolios,” he said according to the news website.

Man GLG CEO Teun Johnston commented the new hire in a statement, “We believe that machine learning techniques present an opportunity for discretionary investment managers, providing them with analytical tools to complement, and further enhance, their decision making processes,” he said.

“We are continually seeking to develop our offering for our clients and, as the amount of data available continues to expand, these techniques can supplement existing rigorous quantitative and qualitative analysis.”

The fund is only the latest in a string of financial entities waking up to the reality of the current data abundance, and trying to harness its power with machine learning and other algorithms in order to spot market trends and investment opportunities before their competitors.



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