By Pascal Dowling Amerindo Internet fund, the investment trust, is predicting an increase in liquid...
By Pascal Dowling
Amerindo Internet fund, the investment trust, is predicting an increase in liquidity with the listing of a number of private companies in the portfolio.
According to Richard Dukas, director of corporate communications at Amerindo, a number of companies in the portfolio have filed applications for a listing on the NYSE and are waiting to float on the troubled American markets.
He said: "At the moment, the companies in question are waiting for the right window to appear in the markets, the market is still falling but we expect quite a sharp rally to occur in the near to mid term."
Dukas said the problems being faced by the North American market were partly due to the correction which followed the technology crash in March.
He said: "Amerindo has been involved in emerging technology since 1980. In this sector, it can be observed that every two years there is a major correction in valuations."
Dukas also said that a window for listing would not occur until the slowdown in the US economy had halted and corporate profits picked up. He said the recent cut in US interest rates and availability of quality undervalued stock meant some recovery was likely. Amerindo was trading on a premium of 16.7% on 5 January. Dukas would not rule out the possibility of a share issue in the future.
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