News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Asset Management

Allianz fund manager on tech rout and why being underweight FAANGs ‘hurt us’

Michael Seidenberg, a portfolio manager with the £1.5bn Allianz Global Technology Trust, says investors should look to companies with strong balance sheets

‘Companies are beginning to understand that digital is going to be how they build an experience with customers’
‘Companies are beginning to understand that digital is going to be how they build an experience with customers’

Technology stocks have got off to a shaky start this year, as fears of looming interest-rate hikes prompt spooked investors to dump shares.

The tech-heavy Nasdaq Composite Index has fallen some 8% since the start of January. Sector giants such as Netflix, Apple and Amazon have dropped sharply and remain in the red.

WSJ Logo