Investment trust managers investing in technology, media and telecommunications believe the sectors...
Investment trust managers investing in technology, media and telecommunications believe the sectors could be punished further before a rerating begins. Nearly two and a half years of underperformance compared to old economy stocks has left tech stocks looking oversold and reduced the NAVs of trusts investing in the sector. Bryan Lenygon, chairman of the Finsbury Technology Trust, says: 'The global equity markets have continued to decline and we are in the midst of the most severe and sustained bear market since the 1970s. 'The technology sector has been particularly badly hit...
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