The first five months of the year have been terrible for tech investors, but over the past week performance has improved. Are we in a bear market rally? Or might performance improve from here?
On the podcast this week, Polar Capital Technology Trust’s (PCT) manager Ben Rogoff tells the IC’s Mary McDougall how current valuations compare with history, what parts of the market he’s currently buying into and why recent performance has been disappointing for the trust compared with its benchmark.
They discuss the areas of tech likely to suffer most in a recession, what persistent inflation could mean for valuations, why he’s looking more closely at fintech, how to analyse the major cloud providers and why he’s glad he doesn’t own private companies.
Polar Capital Technology Trust had net assets of £3bn and was trading at a discount of 13.4 per cent on 1 June. Since the start of 2022, its share price has fallen 28 per cent.
