Artificial intelligence dominates the headlines, yet stating it is the sole driver capable of reshaping the future economy would be an oversimplification. Robotics and automation represent an equally solid growth horizon and are still undervalued by many investors.
The Robotech strategy, launched a decade ago, is an effective tool for investors seeking exposure to these sectors with a medium‑to‑long‑term perspective.
A “rather unique” approach
Robotech is not merely a high‑technology thematic fund; it is a structured investment solution that covers the entire value chain of robotics and automation. To achieve this, three pillars have been defined:
- Industry – This pillar includes the classic robots found in automobile factories as well as the logistical equipment that automates warehouses and distribution centers. It also embraces cobots -collaborative robots that work side‑by‑side with operators. Their flexibility, low cost and ease of use make them accessible to small firms and even individual users.
- Society – Focused on the B2C market, this pillar encompasses the automation of health services (digital health, robotic surgery) and autonomous mobility. When we look for companies that supply the combination of radar, vision and software for the next generation of vehicles, we do so on the premise that service automation is already a tangible reality.
- Enablers – These are the components that accelerate technological progress: high‑performance semiconductors, specialised vertical software and increasingly integrated vision systems in production. In my personal view, this segment offers the most attractive opportunities, although we maintain a balanced exposure across the other two pillars.
We do not strive for a strict 33% split among the pillars. Capital is allocated where the opportunity is clearest, which has allowed us to keep turnover below 30% while maintaining a notable active‑share in listed companies.
Not “just” a technology strategy
Many investors assume that a robotics‑focused strategy reduces to pure technology exposure. While technology constitutes the backbone of the portfolio, industrial exposure (around 30% of the holdings) and a weighting in the health care sector provide greater resilience against market volatility. Diversification across industrial, health and enabler segments helps cushion unexpected shocks and smooths the overall beta of the strategy.
What fuels robotics and automation?
- Applied artificial intelligence – AI speeds up the evolution of physical robotics, enabling products to interact more intelligently with the real world. The convergence of the two fields creates synergies that broaden return horizons.
- Recovery of the manufacturing sector – After several years of geopolitical and tariff uncertainty, we observe a sustained improvement in industrial activity. CAPEX from large technology firms, which reached historically high levels in 2025, continues in 2026 and spills over into traditional sectors through infrastructure and R&D investments. This capital push toward industrial automation reinforces demand for the components we back.
- Favourable fiscal and regulatory environment – In the United States, the One Big Beautiful Bill allows immediate expensing of infrastructure and R&D investments, generating substantial tax savings for firms that commit to automation. In Europe, German initiatives stand out: a €500 billion infrastructure‑and‑climate programme spread over twelve years, and a consortium of 61 companies pledging €631 billion up to 2028. These public supports create a fertile framework for private investment to flourish.
Conclusion
The combination of a holistic view of the value chain, active management and a long‑term oriented portfolio makes the Robotech strategy an attractive vehicle for diversifying portfolios with a sustainable growth focus.
We believe robotics and automation are not a passing fad but a structural source of value that, when properly managed, can reinforce portfolios in years to come.
AXA WF ROBOTECH
Key risks
The list below of risk factors is not exhaustive. Please refer to the prospectus for full product details and complete information on the risks.
The Fund’s capital is not guaranteed. The Fund invests in financial markets and uses techniques and instruments that can be subject to sudden and significant fluctuations, which may result in substantial gains or losses.
Equity risk
The value of shares in which a Fund invests fluctuate pursuant to market expectations. The value of such shares will go up and down and equity markets have historically been more volatile than fixed interest markets. Should the price of shares in which the Fund has invested fall, the Net Asset Value of the Fund will also fall. Funds investing in shares are generally more volatile than funds investing in bonds or a combination of shares and bonds but may also achieve greater returns.
Global investments
Investing in securities issued or listed across multiple jurisdictions exposes a portfolio to a wide array of differing rules and regulations—such as accounting, auditing and financial‑reporting standards, clearing and settlement procedures, and dividend‑tax regimes. In addition, these investments are vulnerable to foreign‑exchange fluctuations, legislative changes or country‑specific investment restrictions, amendments to foreign‑exchange control policies, and general market‑price volatility.
Emerging market risks
Emerging markets or less developed countries may face more political, economic or structural challenges than developed countries. As a result, investments in such countries may cause greater fluctuations in the Fund’s value than investments in more developed countries.
Investments in small and/or micro capitalisation universe
Investing in the small and/or micro capitalisation universe implies specific liquidity risk. The possible lack of a liquid market may inhibit the ability of the Fund to purchase or sell such investment at an advantageous price. The NAV of the Sub-Funds may be adversely affected.
Investments in specific sectors or asset classes risk
The Fund concentrates their investments in companies of certain sectors of the economy and is therefore subject to the risks associated with concentrating investments in such sectors. This type of strategy may lead to adverse consequences when such sectors become less valued or less liquid.
ESG Risk
Incorporating ESG and sustainability criteria into the investment process can lead to the exclusion of securities issued by certain entities for reasons unrelated to pure investment considerations. Consequently, market opportunities available to funds that do not apply ESG or sustainability filters may be inaccessible to the sub‑fund, and the sub‑fund’s performance may, at times, be better or worse than that of comparable funds that do not use ESG or sustainability criteria. The use of such strategies may also involve leverage, which may increase the effect of market movements on the Sub-Fund and may result in significant risk of losses.
