Fidelity Funds - Global Technology Fund W-Acc-GBP
Rated Fund 2017-20. Looks to identify the most rewarding links in the technology chain
This is a Luxembourg-domiciled fund that has outperformed the MSCI All Countries World Information Technology index over at least five years. It invests in companies around the world that have or will develop products, processes or services that deliver technological advances and improvements or benefit significantly from them.
The fund has been managed since 2013 by HyunHo Sohn, previously involved in researching global technology stocks. He takes a bottom-up, stockpicking approach and seeks quality companies with sustainable growth prospects that trade at attractive valuations. However, he believes understanding technology trends and innovations are key to identifying long-term leaders in the industry.
An important element in his investment process is value chain analysis, which he uses to identify the companies better able to profit from a particular product’s life cycle, whether it is producing component parts or selling a finished product.
The investment opportunities he favours tend to fall into three categories: growth, cyclical and special situations. Growth companies are those focused on innovations or disruptive technology that are set to experience high growth. Cyclical opportunities are found in sub- sectors and typically have strong market positions. Special situations are mispriced businesses with recovery potential.
At the end of 2019, much of the portfolio was invested in the US, which accounted for 66% of assets. Overall, Sohn had around 60 holdings, with the top 10 accounting for 39% of the portfolio.
Narrative and ratings content all as of 01 January 2020.See all Money Observer rated funds
|Samsung Electronics Co Ltd Participating Preferred||5.84 %|
|Apple Inc||5.67 %|
|Alphabet Inc A||4.41 %|
|KLA Corp||4.38 %|
|Microsoft Corp||3.95 %|
|International Business Machines Corp||3.16 %|
|SAP SE||2.83 %|
|Intel Corp||2.74 %|
|Oracle Corp||2.61 %|
|Netflix Inc||2.45 %|
|United States||66.38 %|
|Asia - Developed||11.18 %|
|Asia - Emerging||7.21 %|
|Communication Services||20.00 %|
Data provided by Morningstar.
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