Michael Jordaan stakes his retirement on machine learning at AI-powered fund

SA's first investment manager powered by machine learning -- plans to launch factor-based funds that it hopes will be easier for investors to understand. The Michael Jordaan-backed fintech uses artificial intelligence (AI) and machine learning to drive research, analysis and stock selection, offering a hedge fund and unit trust fund. Jordaan, the former CEO of First National Bank, has invested his retirement savings in the NMRQL unit trust. "It is important to demonstrate to outside investors that I have proper skin in the game," he told Business Day. But the sophistication of NMRQL's technology, which removes the human element in investment decision-making almost entirely, has proved a hurdle to sales.