Fund to watch: AXA Framlington Global Technology

Published by Rob Griffin on 09 October 2012.
Last updated on 09 October 2012

The AXA Framlington Global Technology fund has been one of the most consistently strong names in the IMA Technology & Telecoms sector, having been the best performing portfolio over one, three and five years, according to Morningstar data to 22 August 2012.

The aim of the £191.1 million fund, which is currently managed by Jeremy Gleeson, is to achieve long-term growth by investing in companies engaged in the research, design and development of technologies in all sectors, including the internet and information technology.

Gleeson joined AXA Framlington in July 2007 and took over as lead manager from Nick Evans, who had run the fund since June 2001.

Their combined track record makes for impressive reading. Over the past 10 years, their efforts have helped the fund return 198.34% to investors - which is only bettered in the IMA Technology & Telecoms sector by the Close FTSE techMark fund's 208.25% performance.

Prominent assets

A quick glance at a list of the fund's largest holdings illustrates its exposure to some very prominent names. Apple, for example, accounts for the lion's share with 7.2% of assets under management, while others include Google, Cisco Systems and Samsung Electronics.

The software & services sector accounts for a 37.19% share of assets, followed by technology hardware and equipment with 32.15%, and semiconductors and equipment with 23.45%.

The other sectors represented are financials and telecoms services. Geographically, the fund is 82.85% focused on the US.

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