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Tech market set to reboot

The average technology fund lost no less than 72.5 per cent of investors’ money over the five years to July 1. However, six out of the 24 investment houses I monitor are now optimistic about technology shares whereas, last month, only SG Asset Management was optimistic.

I believe the technology sector will make a strong recovery. There are several good reasons for this. First, company spending on technology continues to be healthy, supported by improving corporate profits. Second, consumer spending on electronics, computers and software continues to grow rapidly, especially as new must-have products such as LCD TVs appear on the shelves in the run up to Christmas. Third, spending on telecoms equipment is rising as companies such as BT invest in new networks with the aim of offering video and high-speed data.

Many people believe the dollar is likely to strengthen against the pound, giving higher returns on US shares for UK investors.

The trust I like best is SG technology, run by Alan Torry and Hugh Grieves. Torry’s performance in the last technology bull market was excellent and I expect him to repeat this. Around 70 per cent of the portfolio is held in the US, with the rest spread between a variety of countries. The top holdings include Cisco, Samsung, SAP Systems, EMC Genentec, Intel and Microsoft.

In the year to August 8, the fund rose by 26 per cent.

M&G global technology, managed by Aled Smith, is also an excellent fund.


Synaptic offers ethical guide

Synaptic Systems is offering a free guide for advisers on ethical and socially respon-sible investments in association with Friends Provident. The IFA software provider says the guide includes the first online video portal to promote asset managers and products with an ethical investment discipline enab-ling advisers to access fund manager interviews from Asset.TV. Synaptic says […]

Equity-release boom poses sale problems

Equity release could become the next big misselling scandal if IFAs do not take due care, warns GE Life. The firm predicts that the equity-release market could triple over the next five years following demand driven by demographics, client needs and the savings gap – which could reach 125bn by 2009 according to the Turner […]

Alpha beater

Fund managers Nicola York finds that Credit Suisse’s Leigh Harrison thinks alpha funds are coming back into style

Leeds Building Society launches on Monday

Leeds Building Society launches under its new moniker on Monday.The 57 branches of Leeds & Holbeck and its Gibralter branch will undergo a renaming, following a vote at the mutual’s AGM in March with over 80 per cent of the 75,000 voters in favour of the name change.Leeds chief executive Ian Ward says: “One of […]

Finding value in UK equities

By Mark Martin, Investment Director & Head of UK Equities Register for a live update on 9 July at 14.30 with Mark Martin, who will be discussing Chancellor George Osborne’s ‘emergency’ summer budget, the UK equity landscape post May’s General Election and his outlook for the second half of 2015. Mark will also highlight the […]


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