Statwatch: ABN Amro Telecommunication Services fund

The telecoms sector is benefiting from increasingly defensive investors, in the wake of the deterior...

The telecoms sector is benefiting from increasingly defensive investors, in the wake of the deteriorating US outlook, according to Philippe Kiewiet de Jong, manager of the ABN Amro Telecommunication Services fund. The manager says the sector’s modest valuation is becoming particularly attractive to institutional investors. Telecoms are seen as defensive since revenues are less affected by economic developments and investors see the sector as a cheap way of gaining exposure to stable cash yields, he says. Kiewiet de Jong’s €102m Luxembourg-domiciled fund is ranked fourth in the Technol...