AIB Govett is planning to launch a European Technology fund in approximately two months' time, write...
AIB Govett is planning to launch a European Technology fund in approximately two months' time, writes James Thorneley.
The portfolio is likely to be part of AIB Govett's General Funds Oeic umbrella and will be run by Peter Kysel. Kysel manages Govett European Strategy, which is the fourth best performing European fund over the three years to 7 June.
On an offer to bid basis, it rose by 138% compared to an average rise of 89.4% in the Standard & Poor's European ex UK peer group. The portfolio of European Strategy is run using a thematic approach.
Kysel believes the main issue in Europe is convergence, both monetary and economical. The business conditions in France, Germany and Italy are similar, according to Kysel. Companies may decide to increase their market share in another country and so will undertake some M&A activity. He also plays the convergence theme in countries currently outside the eurozone which are trying to meet entry criteria.
The technology fund will be an open-ended alternative to Govett's forthcoming closed-end European technology portfolio.
Last month it was announced that Govett's First Ireland investment trust was to be wound up with investors being given the opportunity to roll over into a split capital structured trust with part of its portfolio invested in European technology companies.
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