It is time for investors to cash in profits from technology trusts after a "remarkable" run of outperformance, according to analysts at Stifel, who have downgraded both Allianz Technology (ATT) and Polar Cap Technology (PCT) to a rating of neutral.
Research published this morning (21 October) highlighted that both PCT and ATT have "significantly outperformed their benchmarks" over the past five years, and throughout the market rebound since March, and warned of the potential for supportive market themes to begin to fade. "The sector has benefited from strong structural tailwinds, but it is now a consensus play, valuations have significantly increased and potential risks do exist… [such as] regulation [and the] China-US trade war," Stifel said. "We do not know when this positive market trend will change." Investec: New strate...
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