The £68m Smith & Williamson Global Technology trust is focusing on Europe and the Far East, where fu...
The £68m Smith & Williamson Global Technology trust is focusing on Europe and the Far East, where fund manager Robert Sanders anticipates the strongest growth opportunities going forward.
He said although the US will continue to perform, due to its high calibre companies growth is further advanced and Europe and the Far East have more of an upside.
The fund was launched three months ago and is ranked second out of 38 funds in the global specialist sector over that period, on a bid to bid basis.
Minimum investment is £1,000 with the minimum top up also being £1,000. The front-end charge is 5.5% and there is an annual charge of 1.25%. IFA front end commission is at least 3% initial although there is no renewal available.
Sanders said the portfolio invests in companies in the IT, software, telecoms and media sectors. While the vast majority of the fund will be invested in the global leaders, such as Microsoft, there is also significant exposure to smaller and medium-sized companies.
Around 70% of the fund is invested in large caps, 25% in mid caps and 5% in small caps. He said: "The technology sector is growing so fast that already some small to mid cap companies have become mid to large caps."
Telecoms account for 40% of the fund, followed by IT at 17%, software at 40% and media at 3%. Geographically, most of the fund is invested in the UK, which accounts for 51% of the assets. A further 30% of the fund is invested in the US, followed by Europe at 12% and Far East at 7%. Top 10 holdings include Autonomy at 4.8%, Sage at 4.3%, Logica at 3.9%, Softbank at 3.3%, and London Bridge Software at 2.9%.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till