Allianz Technology Trust Plc

Specialist

New for 2018. Taps into technological transformation

Allianz Technology Trust has replaced Polar Capital Technology investment trust, a Rated Fund since 2013, on account of its superior performance and lack of an additional performance-related fee. Walter Price, who has 40 years' experience of investing in technology, has run the trust since 2007. He invests principally in the equity securities of global quoted technology companies, with the aim of achieving long-term capital growth in excess of the Dow Jones World Technology index. With the pace of technological change increasing and technology set to transform the way we drive, work and live, Price believes the sector provides some of the best absolute and relative return opportunities in equity markets, especially for bottom-up stock pickers such as him. He points to the growth in technology coming from the creation of new markets, rather than simply economic growth. He favours companies creating new markets or effecting significant change in old ones. Sectors such as automobiles, advertising, security, retail and manufacturing are all being transformed by advances in technology, he says.

He does not have a style bias and is finding 'compelling' opportunities across the high growth, value and 'growth at a reasonable price' segments of the market. Sectors and themes that are providing him with the richest pickings include semiconductors, cloud computing, robotics and automation, and security.At the end of 2017, the trust had around 60 holdings and more than 80 per cent of its assets in the US. Shares in the trust were on a small premium to net assets at the end of 2017, having traded as wide as �14 per cent over the past three years.

Narrative and ratings content all as of 01 January 2018.

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Name
Allianz Technology Trust Plc
Manager
Allianz Global Investors (UK) Ltd
Type
Closed Ended Investment Company
ISIN
GB0003390720
Sector
Sector Specialist: Tech Media & Telecomm
Launched
01/12/1995
OCF
0.99 %
Risk Rating
4
3 Year Sharpe
1.77
3 Year Alpha
7.01
Yield
0 %
Benchmark
DJ Global Technology TR USD
Fund Size
£ 482.85 million
NAV
1,490
Gearing
100
Discount Premium
2
The investment objective of Allianz Technology Trust PLC is to achieve long-term capital growth through investment principally in the equity securities of listed technology companies on a worldwide basis. The portfolio predominantly comprises equity investments and has a benchmark index of the Dow Jones World Technology Index (sterling adjusted, on a total return basis). To invest in a diversified portfolio of companies that use technology in an innovative way to gain a competitive advantage. Particular emphasis is placed on companies that are addressing major growth trends with innovation that replaces existing technology or radically changes products and services and the way in which they are supplied to customers.
Holding %
Apple Inc 5.62 %
Amazon.com Inc 5.50 %
Micron Technology Inc 5.33 %
Microsoft Corp 4.74 %
Square Inc A 4.16 %
Facebook Inc A 3.85 %
DXC Technology Co 2.98 %
Arista Networks Inc 2.87 %
Palo Alto Networks Inc 2.76 %
Alphabet Inc A 2.74 %
Region %
United States 79.47 %
Asia - Emerging 5.93 %
Sector %
Technology 87.66 %
Consumer Cyclical 9.58 %
Name
Allianz Global Investors (UK) Ltd
Address
EC2M 3TY, London, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Michael Seidenberg
Joined 11/30/2016

Mr. Seidenberg is a portfolio manager, an analyst and a director with Allianz Global Investors, which he joined in 2009. He is a member of the Global Technology team in the US. Before joining the firm, he worked at a number of hedge funds, including Pequot Capital and Andor Capital. Before that, Mr. Seidenberg covered a range of technology sectors at Citadel Investment Group. He has also worked in the software industry and at Oracle Corporation, and was previously at Roche Laboratories in pharmaceutical and biotechnology sales. Mr. Seidenberg has a B.S. in business administration from the University of Colorado and an M.B.A. with concentrations in finance and accounting from Columbia Business School.

Danny Su
Joined 11/30/2016

Mr. Su is a portfolio manager, an analyst and a director with Allianz Global Investors, which he joined in 2000. He has global responsibility for the hardware, semiconductor, semiconductor capital equipment and contract-manufacturer sectors. Mr. Su was previously an associate analyst at ABN Amro, covering the internet-infrastructure software and marketing research sectors. Before that, he was a business analyst with McKinsey & Company in Hong Kong. Mr. Su has a dual B.S. in electrical engineering and economics from MIT, and a master’s degree in management from the Kellogg Graduate School of Management at Northwestern University.

Danny Su
Joined 11/30/2016

Mr. Su is a portfolio manager, an analyst and a director with Allianz Global Investors, which he joined in 2000. He has global responsibility for the hardware, semiconductor, semiconductor capital equipment and contract-manufacturer sectors. Mr. Su was previously an associate analyst at ABN Amro, covering the internet-infrastructure software and marketing research sectors. Before that, he was a business analyst with McKinsey & Company in Hong Kong. Mr. Su has a dual B.S. in electrical engineering and economics from MIT, and a master’s degree in management from the Kellogg Graduate School of Management at Northwestern University.

Walter Price
Joined 05/01/2007

Mr. Price is a senior portfolio manager and managing director with Allianz Global Investors, which he joined in 1974. He is co-lead portfolio manager of the Global Technology strategy. He previously worked for Colonial Management, an investment advisory firm in Boston, where he became a senior analyst responsible for the chemical industry and the technology area.

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