The rapid sell-off in technology stocks has not changed most advisers' attitude to big technology funds, according to the latest FTAdviser poll.
The poll, which was conducted via Twitter, shows that around two thirds of advisers are optimistic about the outlook for technology funds, with one third believing now is the time to sell.
The question comes amid a steep sell off in the shares of the Scottish Mortgage Investment Trust, the largest trust in the UK market, and a vehicle with heavy exposure to the technology sector in the US and China.
The shares were over £14 in the middle of February, but now are below £12.
The reason for the sell-off is fear amongst market participants that vaccines will prompt a stronger than expected economic recovery, and lead to higher inflation, and the earlier withdrawal of the monetary stimulus put in place by central banks. This would negatively impact those equities which trade at the highest valuations at this time, including technology stocks.
Technology stocks are also particularly vulnerable to this trend as they mostly do not pay dividends, and as bond yields rise, this means the income being sacrificed by owning non-yielding assets increases.