Allianz Global Investors has rebranded its £138.9m RCM Technology Trust, which entails the trust donning a new ticker.
The group is renaming the trust to the Allianz Technology Trust and the new ticker will be ATT.
Robert Jeens, chairman of the trust, said the name change, “reinforces our association with Allianz Global Investors’ branding and extensive presence in the retail market”.
On a one- three-and five-year basis the trust has outperformed its benchmark, the Dow Jones World Technology Sterling Adjusted Total Return index, the group said.
Walter Price, manager of the trust, said he was focusing on component makers in the hard disk drive and memory space as a new opportunity in the sector given “lofty” valuations elsewhere.
“We agree that the valuations on many cloud and internet companies had become too lofty,” he said.
“In this sense we think the pull-back is a healthy way of purging some of the speculative excesses that built up in the markets more recently.”
The trust is a member of the Investment Adviser 100 Club of top-performing funds.
