Augmentum Fintech (AUGM ) is the only London-listed fund dedicated to unquoted fintech disrupters, giving chief executive Tim Levene a good insight into the use of artificial intelligence and machine learning in lending, currency trading, wealth management and customer service.

Interviewed at the recent Frostrow investment companies conference, Levene said he was ‘quite excited’ at the deals ‘coming down the pipe’, predicting the fintech sector would exit the bear market at the end of this year.

With 20% of the portfolio in cash after the sales of Interactive Investor and Cushon, the workplace pension provider, Levene said Augmentum was ‘well armed’ to exploit investment opportunities, but insisted the company would maintain its pricing discipline and not overpay.

At 98.5p, Augmentum shares trail on a wide 36% discount below net asset value. The stock recently fell below the 100p launch price six years ago, having peaked at 173p in September 2021.