Carmignac has launched a UK-domiciled version of its global technology fund.
The FP Carmignac Tech Solutions fund is the UK version of the Luxembourg-domiciled €846m Carmignac Tech Solutions strategy, managed by Kristofer Barrett, which was launched in continental Europe just over two years ago and has returned 105.5% over that period.
Gavin Ward, head of UK business development at Carmignac, said: “We believe we are at the outset of a multi-year technology revolution that will continue to create compelling long-term investment opportunities and remain an important area of focus for clients.”
It will invest across the global technology sector and is designed to identify opportunities throughout the industry’s value chain – such as companies supplying infrastructure and components supporting technological development – rather than focusing on a narrow set of themes of companies.
Barrett said: “Our key objective with this fund is to uncover overlooked as well as emerging leaders across the technology value chain, helping investors build genuinely diversified and differentiated exposure to this rapidly advancing sector.”
While he noted that technology stocks continue to offer “exceptional opportunities”, he said “they are not for the complacent – valuation discipline and rigorous bottom-up analysis matter more than ever”.