Threadneedle wary of tech valuations

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Threadneedle is awaiting a downturn in the North American market to use as a buying opportunity to a...

Threadneedle is awaiting a downturn in the North American market to use as a buying opportunity to add to its US technology and media exposure across its global equity portfolios. It is also maintaining a positive position on oils because of perceived supply-side support, but has moved to neutral weighting on telecoms, a sector which it sees as undermined by growing equity supply and rising investment spending. Fund manager Sarah Arkle, head of equities and managed funds and lead manager of the Threadneedle Global Select Growth Fund, said once economic data from the US shows a significan...

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