Gleeson avoids the hype to play spending cycles in technology

Global Tech manager says sector-boosting internet technology is about to come of age

When Jeremy Gleeson began investing in the technology sector in the late 1990s, share prices were soaring and tech companies were becoming among the largest in the world. In March 2000, Cisco trumped Microsoft to reach the top of the market-cap scale at $579bn (£371bn) in size. A search for records of that day on the internet yields surprisingly little, illustrating a problem that was at the heart of the dot.com bubble, says Gleeson, manager of Axa Framlington’s £104m Global Technology fund. Investors were sending IT share prices stratospheric, but the internet technology that boos...