Harker reduces holdings in winning technology stocks

GLG Japan Core Alpha manager Stephen Harker is reducing his fund's large technology overweight after...

GLG Japan Core Alpha manager Stephen Harker is reducing his fund's large technology overweight after a major sector call late last year helped deliver a strong performance spike. Harker positioned more than half the fund in tech as the sector dived amid the severe Japanese equity sell-off at the end of 2008, but he has cut the weighting down to 45% after taking the profits from the sharp recent spike. The £485m GLG Japan Core Alpha fund has returned 28.1% over the six months to 29 April, against an 8.7% climb for the IMA Japan sector, according to Trustnet. Over one year, Harker's veh...