Amundi and Invesco are among a cohort of asset managers that have benefitted from the recent buzz around AI and subsequent rally in tech stocks, with assets overseen by European funds focused on the metaverse reaching a record high.

According to exclusive data provided to Financial News from Morningstar, metaverse funds in Europe saw their collective assets rise to $1.1bn at the end of March — more than double the $403m they oversaw a year previously.