RCS - Polar Cap Tech Tst - Update research from QuotedData

Polar Capital Technology TrustAnnouncement

08/12/2022 09:00

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RNS Number : 0603J  Polar Capital Technology Trust PLC  08 December 2022

Polar Capital Technology - Update research from QuotedData

8(th) December 2022

Jockeying for position

Weakened risk appetite among investors as macroeconomic headwinds persist has
seen the technology sector suffer. As investors retreated to the sector titans
(stocks such as Microsoft and Apple), Polar Capital Technology's (PCT's)
underweight position in these companies has seen it underperform its benchmark
over the 12 months to the end of November, while its exposure to
'next-generation' software companies has also been a source of
underperformance versus legacy stocks as IT budgets are disproportionately
squeezed.

PCT's manager, Ben Rogoff, is undeterred by this and plans to take advantage
of valuation compression to double-down on its 'next-generation' thematic
position and will continue the portfolio's pivot towards secular growth stocks
(such as software companies), focusing on companies with strong balance sheets
that can perform well in a more challenging backdrop.

Recent inflation data and a more dovish central bank rhetoric suggests that
peak inflation may have been hit, which should result in an easing of interest
rate expectations and a raising of investor appetite for technology stocks.

Full research:

https://quoteddata.com/research/polar-capital-technology-jockeying-position-qd/
(https://quoteddata.com/research/polar-capital-technology-jockeying-position-qd/)

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