The Pictet Robotics fund will officially launch on 8 October 2015, with an initial subscription period for the fund running from 2-7 October.

The new fund will aim to capitalise on the growth of an industry that is forecast to expand as much as four times faster than the global economy over the next decade.

The fund group said advances in IT, such as cloud computing and the emergence of powerful new microprocessors, are revolutionising robotics and automation technologies, which are expanding beyond the factory floor into our everyday lives.

Robots that can detect changes in facial expressions and tones of voice are being used in services and security industries. In the health care industry, sophisticated robots already assist surgeons in complex procedures, while in transport, smart sensor technology is being deployed in driverless cars.

“Robots have long been used in factories to automate dangerous, dirty or dull tasks. But the pace of invention is accelerating as robots are becoming indispensable to our professional and personal lives. Companies active in robotics seem bound to enjoy strong growth from this new wave of innovation,” said Karen Kharmandarian, senior investment manager, thematic equities at Pictet.

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The Robotics fund is the latest addition to Pictet Asset Management’s range of thematic strategies which already includes, among others, specialist funds in digital communication, security, health and water.

Thematic funds allow investors to capitalise on long-term socio-economic trends shaping the world.

The Robotics fund will be available to UK retail investors and negotiations with major platforms are currently underway, according to a Pictet spokesperson.

It will be structured as a Luxembourg-domiciled Sicav.

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