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Fundies say tech slump is an opportunity Jan 12, 2021 – 11.10am Share Investors are confident the heavy underperformance of the local technology sector through the first few sessions of the year is nothing to panic about, despite rising bond yields bringing their lofty valuations into question. Since the US 10-year topped 1 per cent last Thursday the local market s largest software-as-a-service (Saas) player Xero has plunged 10.3 per cent, while fellow SaaS provider Nearmap has dropped 6.3 per cent. Jason Orthman, the deputy chief investment officer at Hyperion Asset Management dismissed 2021 s reversals as short-term wobbles in some cases.
AFR Any rotation to value styles or cyclical stocks will be temporary, he said. The best structural technology growth companies are misunderstood and remain compelling value over a 10-year time horizon. ....
The firm said its investment philosophy revolved around “very high-quality companies that are benefiting from disruption, have long runways of growth through exposure to global megatrends, and are highly profitable”. Monik Kotecha, Insync’s chief investment officer, said: “We wrap deep quantitative analysis around insights on industry disruption and the 16 key megatrends that our firm has identified as being predictive of long-term growth.” Wes Gillett, Insync Funds Management national manager distribution, said: “The international element of a portfolio is now of even more interest for the advice industry when volatility and the income drought limit growth potential for portfolios. Our fund shows very low correlation in outperformance with all our international peers and should therefore deliver enhanced performance in blended portfolios over the long term.” ....