US equity fund managers have begun cutting their exposure to technology stocks as the highly-rated sector falls out of favour with some investors following a long winning streak.
Investors backing Google are set to profit from billions of dollars of video advertising revenue over the next few years, a Baillie Gifford American fund manager has predicted.
The manager of the Allianz RCM Technology trust is looking to the burgeoning mobile advertising market to help the new generation of tech companies boost revenues this year and beyond.
Shares in Twitter have fallen 20% in pre-market trading after it reported a net loss of $645m (£396m) for 2013, just three months after flotation.
Alliance Trust Savings (ATS) has signed an agreement with technology firm GBST to provide administration for the wrap.
Tech giant Apple saw profits fall for the third consecutive quarter as it reported its full-year results, although iPhone sales continued to rise.