Research from QuotedData

RNS Number : 9710K
Polar Capital Technology Trust PLC
10 May 2022
 

 

 Polar Capital Technology Trust - Research from QuotedData

 

10 May 2022

 

Eyes on the prize

 

Heightened downside risk and disappointing earnings updates have seen the technology sector give back some of its considerable long-term outperformance of the wider market. As investors retreated to the sector titans (stocks such as Microsoft and Apple), Polar Capital Technology's (PCT's) underweight position in these companies has seen it underperform its benchmark over the 12 months to the end of April. PCT's manager, Ben Rogoff, is undeterred by this, stating that technology stocks are in a better place than last year, and comparable performance will be more favourable going forward.

 

The manager has taken advantage of valuation compression in the sector to upgrade PCT's portfolio, rotating away from stocks (such as those in e-commerce), which are more sensitive to the economic cycle, and into secular growth stocks (such as software companies), where earnings are more constant even during downturns. Ben believes that, despite depressed economic growth, the long-term fundamental growth drivers for the sector remain.

 

Full research:

 

https://quoteddata.com/research/polar-capital-technology-eyes-prize-qd/

 

This research is also available free on our website www.quoteddata.com where you will also find news, performance data and factsheets on every London listed Investment Company. QuotedData writes and distributes research on a number of quoted companies, facilitates meetings between those companies and existing and potential investors and assists in raising additional capital where required.

NB: Marten & Co was paid to produce this note on Polar Capital Technology Trust Plc and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors.

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