Poor performance by IT stocks fails to deter BlackRock's Doll

BlackRock's chief equity strategist Bob Doll is still bullish on information technology despite some underperformance from the sector recently.

In August, stocks such as memory card producer SanDisk Corp and hard drive provider Seagate Technology were the biggest drags on the performance of Doll’s US Dynamic fund. The £129m fund is lagging the IMA North America sector over three months, returning 2% against the 5.5% average. “Underperformance was attributable to stock selection within the information technology, materials and consumer discretionary sectors,” Doll said. However, Doll said internet security group Symantec performed well, and he remains selectively optimistic on the sector, which is the fund’s second largest ...