Which technology fund is a winner?
As the Australian Securities Exchange launches a new All-Tech index, which technology funds have performed the best over the past year?
There are not any funds which focus exclusively on Australian technology with five technology funds available to Australian investors taking a global approach and one looking at Asian companies, all sitting in the ACS Equity - Specialist sector
The best-performing technology fund over one year to 31 January, 2020 was BT Technology Retail which returned 38.1% according to FE Analytics.
The fund, which was approaching its 20-year anniversary having been launched in March, 2000, invests in technology companies from the United States, Europe and Asia and was defined as an aggressive fund for investors with a seven-year time horizon.
In second place was ETFS Morningstar Global Technology ETF with returns of 37.9% over the period. While it was primarily focused on the US with top holdings including Intel and Adobe, it had a 2.7% allocation to Australia and was launched in April, 2017.
In third was CFS Wholesale Global Technology & Communications fund which was launched in November, 1999 and saw returns of 35.8% over one year to 31 January, 2020. Top holdings included Microsoft, Visa and Chinese technology firm Alibaba.
Performance of six ACS technology funds over one year to 31 January, 2020
AUTHOR
Laura Dew
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
