ABN Amro in tech shift

The manager of the ABN Amro North American Growth fund has reduced his aggressive negative bet in technology stocks. The fund is managed by David Watson of Montag & Caldwell in the US. The move represents the group's closest proximity to a market weighting in technology stocks for many years. The fund, launched in November last year, is based on the long-term investment process employed by Montag & Caldwell. The group has spent 25 years developing this process, which focuses almost exclusively on large-capitalisation stocks. The fund holds between 30 and 40 stocks and is currently a...