Long-term investing platform Public launched a new AI-powered feature called Generated Assets, allowing users to turn any thematic idea into a custom equity index. According to the company, investors can now generate, fine-tune, and track personalized indexes benchmarked against the S&P 500, with a simple text prompt.

Company Filings Analysis

At launch, users can create indexes based on prompts like “companies that have flat org charts” or “CEOs under 40.” Public’s AI system analyzes company filings and other publicly available data to compile a list of stocks that meet the criteria.

The tool then backtests the resulting index against historical market data to show how it would have performed. Public plans to introduce investment capabilities for the custom indexes in the near future. For now, users can monitor their indexes and share them via a leaderboard on the platform.

The company positions the tool as an AI-assisted alternative to traditional investing approaches, aiming to give users more autonomy without requiring extensive market expertise. The feature supports a wide range of use cases, from exploring niche investment ideas to identifying overlooked market themes.

Recent Developments

Public, which launched in 2019, has raised over $400 million from investors including Accel and Tiger Global. The New York-based platform supports long-term investing across multiple asset classes, including stocks, bonds, crypto, and options.

The addition of Generated Assets reflects growing efforts across the fintech industry to integrate AI tools into investment platforms, enabling greater customization and accessibility for individual investors.

Last year, Public.com re-entered the UK market after suspending its local operations just eight months after launching in the region. The market re-entry followed Robinhood also launching its own brokerage services, increasing market competition in the region.

Earlier, the company mentioned that it was "suspending operations in the UK", adding that all UK accounts will be closed permanently after 30 April 2024.

Source: Finance Magnates