Limp US tech reporting season impact on UK investment trusts
A relatively impressive first quarter of 2019 for many of the world’s largest technology companies (Google parent Alphabet aside) has failed to move the needle of the three investment trusts most exposed to the technology stocks.
Shares in Allianz Technology Trust (ATT), Polar Capital Technology Trust (PCT) and Scottish Mortgage Investment Trust (SMT) have barely budged since Amazon and Microsoft got the ball rolling in late April.
Yet year-to-date performances have been strong for the trio. The Allianz, Polar and Scottish Mortgage trusts have an average share price return of 23% so far this year, led by Allianz’s impressive 33% rally.