RCS - Polar Cap Tech Tst - Update from QuotedData

Polar Capital Technology TrustAnnouncement

09/01/2024 13:00

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RNS Number : 1298Z  Polar Capital Technology Trust PLC  09 January 2024

 

Polar Capital Technology - Update from QuotedData

9(th) January 2024

The AI's have it

Polar Capital Technology's (PCT's) manager Ben Rogoff's conviction levels on
the potential of artificial intelligence (AI) have risen, reflecting the
all-encompassing possibilities of the technology. His bullishness is displayed
in the make-up of PCT's portfolio, which is weighted almost 80% towards stocks
that he believes are AI beneficiaries or enablers. The potential for huge
productivity gains - which could boost global GDP by 7%, according to Goldman
Sachs - and few barriers to mass adoption puts the technology sector at a
profound moment in time, with corporate spend on AI set to rocket.

While the mega-cap technology stocks outperformed in 2023, Ben expects a
broadening of performance among mid- and small-cap AI beneficiaries this year.
PCT's active management style (trying to beat the benchmark through asset
allocation) could prove valuable after several challenging years. PCT's 10.7%
discount to net asset value (NAV) seems very attractive given an improved
investment landscape - with the US central bank (the Federal Reserve - the
Fed) indicating that it foresees several interest rate cuts this year - and
the substantial upside potential in the portfolio's exposure to AI
beneficiaries.

Full Research:

https://quoteddata.com/research/polar-capital-technology-the-ais-have-it-qd/
(https://quoteddata.com/research/polar-capital-technology-the-ais-have-it-qd/)

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