Allianz's Walter Price focuses on companies likely to benefit from coronavirus lockdowns

Some firms will 'grow through the crisis'

Allianz Global Investors’ Walter Price has rotated his portfolio away from companies whose earnings will likely be negatively affected by the coronavirus-enforced lockdown towards those expected to benefit from the measures.

Price noted that while many tech companies will see growth slow into 2021, others, such as gaming firms and Netflix, are "seeing growth rates accelerate during this time". The same can also be said for those enabling remote, secure work like Citrix, Z Scaler, Zoom, Ring Central, Google, Cisco, and Microsoft. As a result, Price said he has rotated the £624m Allianz Technology Trust (ATT) "out of some positions in the companies where we expect negative earnings surprises and into stocks in the favourable areas above". Allianz tech trust cuts Amazon on capex concerns Price added the t...