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IMS selects US funds to make growth play in technology

IMS has added technology funds from New York-based group Seligman to its multi-manager funds to reposition the portfolios equally between growth and value stocks.

The IMS select fund has recently built a small position in the Seligman global technology fund, which is also a holding in the IMS select opportunities fund. IMS also holds Seligman’s US communications and information fund in its global select portfolio.

IMS says it is holding the Seligman funds because it is looking at growth stocks rather than a pure technology play.

Seligman’s management team has over 25 years experience of investing in the technology sector and looks for growth at a reasonable price, ensuring there is substance behind the fast growing technology stocks it selects.

IMS executive director, research, Paul Kim says: “The Seligman team is very strong. It does not pay a lot of attention to benchmarking, it is very stock-specific and looks for free cashflow in companies.

“We are inclined towards growth through technology. We think it is about time the portfolios started to gain exposure to growth stocks. A lot of private equity buyers are after stocks in the value camp so we feel it is better to gradually reposition our barbell approach towards an equal balance between growth and value.”

IMS has also announced a link with Netherlands-based multi-manager XS Investments to enhance its presence in continental Europe, specifically in the Benelux and Nordic regions.

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