Fixed income investors have overlooked the opportunities in the fledgling technology bond market, according to Baillie Gifford's Torcail Stewart.
Speaking at Investment Week’s Senate conference in Monte Carlo, Stewart said he had bought select technology companies for his £290m Baillie Gifford Corporate Bond fund. “Of the 2,000 investment grade bonds, less than 2% have been technology issuers so there has been limited attention from the brokerage companies towards this sector,” Stewart explained. “The quality of that sector has not been recognised.” He highlighted niche manufacturer ASML as one company with a strong investment case. ASML is a leading producer of lithography machines, which make memory chips, and has been so ...
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