Technology managers have pointed to positive company results and US President Donald Trump's cash repatriation plans as the key drivers of record inflows in the past few months.
According to data from Bank of America Merrill Lynch and EPFR Global, tech funds garnered $6.43bn over the 16 weeks to 6 April, setting a record for the period, despite concerns over the impact of Trump's protectionist rhetoric. One of the key drivers of investor optimism is Trump's plan to encourage US companies to repatriate offshore money by providing them with a more favourable tax environment, according to David Older, head of equities at Carmignac. He noted US tech companies have large sums parked offshore, with Apple and Google holding $212bn and $60bn abroad respectively. H...
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