Ardevora's Lang backs US tech stocks

Natalie Kenway
clock

Ardevora's Jeremy Lang has rotated his US exposure - which makes up over half of the Global Equity fund long book - out of consumer stocks and into a heavy technology overweight.

The manager said of the 200 stocks on the long book, nearly 100 are invested in the US, with every sector represented, but technology has become the dominant area at 11%. “Tech can be a dangerous place to invest. Its ability to throw up ‘the next big thing’ can encourage reckless optimism. Capital flooded into tech during the last decade of the 20th Century. Much of it remained trapped post 2000, keeping returns low. “Investor sentiment has profoundly shifted from the tech boom days. However, when things go wrong, and capital is stranded, the feeling of ‘almost everyone wins’ shifts...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Stories of the week: UK budget headroom, global growth, and the Bank of Japan

Stories of the week: UK budget headroom, global growth, and the Bank of Japan

UK growth forecasts, Premier Milton, and TIME Investments: The biggest stories from the world of investment and asset management this week

clock 21 March 2025 • 1 min read
BCA Research's Eric Jaffe: Market uncertainty exposes AI's weakness

BCA Research's Eric Jaffe: Market uncertainty exposes AI's weakness

Importance of human-led insights 'undeniable'

Eric Jaffe
clock 19 March 2025 • 3 min read
Partner Insight: Gilty Pleasures

Partner Insight: Gilty Pleasures

Andrew Madigan of Atlantic House explains the short-dated Gilt attraction

Andrew Madigan, Head of client investment solutions, Atlantic House
clock 19 March 2025 • 6 min read
Trustpilot