Growth story continues fully intact

Despite recent setbacks, growth areas are expected to continue to perform well and we continue to favour the technology, media, and telecoms (TMT) sectors. To date the significant flows of money into this area of the market have tended to favour almost all technology companies fairly indiscriminately. Now maybe the time has come to be more discerning. The US tends to be a couple of years ahead of Europe in tech matters, and over the last year greater divergence has been seen in the performance of US TMT stocks. Those companies that have failed to meet business plans have been punished se...