Allianz Technology Trust PLC - London-based technology investment company - Underperforms against its benchmark, the Dow Jones World Technology Index, in the half-year ended June 30. Net asset value per share falls 31% to 241.5 pence as at June 30 from 347.9p as at December 31. Benchmark in comparison drops by 23%.
Compared to a year ago, Allianz's NAV falls 22% to 241.5p at June 30 from 311.6p at June 30, 2021. Proposes no interim dividend, unchanged from a year ago.
Posts a pessimistic outlook, but touts technology sector. "There appears little to be encouraged about in the macroeconomic and global political outlook," it says. But adds: "What we do know is that technology has been and will remain a key enabler of economic progress. Whilst the short-term direction of share prices is almost impossible to predict, the likelihood is that superior long term returns will continue to be possible from investment in technology-led businesses."
Current stock price: 251.83 pence, down 0.1% on Monday
12-month change: down 15%
By Tom Budszus; tombudszus@alliancenews.com
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Allianz Technology Trust (ATT)