Allianz Technology Trust PLC - London-based technology investment company - Falls to pretax profit in six months to June 30 of GBP85.8 million from GBP225.3 million the same period a year before. Net asset value per share rises by 7% to 311.6 pence from 291.3 pence. Gain on investments held is GBP89.0 million. Allianz is not declaring a dividend in this period.
"The manager continues to believe that the company's portfolio of stocks offers attractive growth opportunities, as well as access to cyclical-value stocks. As a board, we remain confident in the manager's ability to drive relative performance through the team's high conviction expertise over the next several years, as they continue to focus on identifying trends that have the potential to uncover tomorrow's Apple or Microsoft. The portfolio remains ungeared," says Chair Robert Jeens.
"We are in a period of rapid change, where the importance of technology is key to the prosperity of most industries. This environment is likely to provide attractive growth opportunities in many technology stocks over the next several years," Investment Manager Walter Price adds.
Current stock price: 295.95 pence
Year-to-date change: down 0.4%
By Amrit Sahota; newsroom@alliancenews.com
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Allianz Technology Trust (ATT)