/ FUND, PENSION, TRUST /
Trust
ALLIANZ TECHNOLOGY TRUST
This trust has made more than 400 per cent over the past decade, but manager Walter
Price says there is still value to be found in tech
FILE
MANAGER: Walter Price
LAUNCHED: 1995
PREMIUM/DISCOUNT: -1.4%
OCF: 1.0%
FE CROWN RATING:
and you have both demand and
supply coming together to meet it,”
he explained.
“I think the result is that we’re
embarking on a very favourable
period for enterprise technology,
[which] is going to last for another
decade. It’s not like a one-year
[trend], it’s going to last for a long
period of time.”
While FAANGs such as
Amazon and Netflix feature in
the trust’s top-10 holdings, so
do a significant number of “as a
service” companies, such as cloud
computing and some internet firms.
The strong performance of
technology in recent years may lead
new investors to worry they are late
to the party. “There’s a tendency
in the big run in technology and
value creation on the consumer
side to say ‘oh, it’s over’, ‘should
I be selling?’ and ‘valuations are
too high’,” said Price. However,
the manager pointed out that
valuations – even in more
consumer-focused companies – are
justified given the cashflows and
strong earni