Update research from QuotedData
Polar Capital Technology - Update research from QuotedData
8th December 2022
Jockeying for position
Weakened risk appetite among investors as macroeconomic headwinds persist has seen the technology sector suffer. 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 November, while its exposure to 'next-generation' software companies has also been a source of underperformance versus legacy stocks as IT budgets are disproportionately squeezed.
PCT's manager, Ben Rogoff, is undeterred by this and plans to take advantage of valuation compression to double-down on its 'next-generation' thematic position and will continue the portfolio's pivot towards secular growth stocks (such as software companies), focusing on companies with strong balance sheets that can perform well in a more challenging backdrop.
Recent inflation data and a more dovish central bank rhetoric suggests that peak inflation may have been hit, which should result in an easing of interest rate expectations and a raising of investor appetite for technology stocks.
Full research:
https://quoteddata.com/research/polar-capital-technology-jockeying-position-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 Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
QUOTEDDATA
50 Gresham Street | London EC2V 7AY
Tel: +44 (0) 20 3691 9430
www.quoteddata.com | research@quoteddata.com | www.martenandco.com
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
COMPANIES COVERED:
Latest directors dealings
- 2 days ago Cerillion
- 2 days ago Associated British Foods
- 2 days ago B&M European Value Retail S.A. (DI)
- 2 days ago B&M European Value Retail S.A. (DI)
- 2 days ago Haleon