Magma Capital Funds (Magma) has launched the Obsidian Fund, a new investment product that will provide current and former professional athletes access to an actively managed, artificial-intelligence driven fund model.

Constructed as a sister fund to Magma’s Total Return Fund, Obsidian is designed for all market environments, with the goal of providing consistent returns no matter the direction of the market. The fund leverages machine learning techniques and an advanced neural network to break down each day’s market activity into three volatility states, which informs how the fund’s systematic strategy deploys its assets.

“At Magma, we view money as the means to something and not an end in and of itself,” says Gershie Vann, founder and CEO of Magma. “We want to be an avenue for current and former athletes to transform their salaries into generational wealth for their families and for their communities. Hedge funds are commonly thought of as a tool for old money to enrich itself, but we want to bring this model to all eligible investors.”