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AXA FRAMLINGTON GLOBAL TECHNOLOGY Z

AXA FRAMLINGTON GLOBAL TECHNOLOGY Z - Overview

Overview of AXA FRAMLINGTON GLOBAL TECHNOLOGY Z Buy in ISA Buy in Investment Account

The fund’s objective is long-term growth, principally through investment in companies engaged in the research, design and development of technologies in all sectors. The fund has a wider remit than traditional technology funds and also includes sub-sectors such as internet advertising and online recruitment. The manager favours companies entering a period of accelerating growth and therefore has a bias towards small and mid cap stocks. The fund invests worldwide but typically has a strong bias to the US.

  • Standard Initial Charge 0.00%
  • Initial charge via Bestinvest 0.00%

Fund summary

Sector Technology and Telecoms
Structure UNIT TRUST
Launched June, 2011
Size £467m
Yield 0.0%
Charging basis Income
Dividends paid 15 Mar

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.84%

Risks

Before investing make sure you have understood the risks relevant to the fund by reviewing our Risk Warnings section. Further information on the risks are contained in the fund's Key Investor Information Document, which we make available to you before you make a decision to invest, alternatively it is available on request.

Bestinvest view

No information available.

Portfolio

Allocation Proportion(%)
Equity 97
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 0
Fund cash 3
Allocation Proportion(%)
UK 3
Europe 6
North America 82
Japan 0
Pacific 3
Emerging Markets 6
Allocation Proportion(%)
Large Caps 55
Mid Caps 26
Small Caps 19
View all performance data for this fund

Investment process

The fund aims to achieve long term growth principally through investments in companies engaged in the research, design and development of technologies giving investors a broad exposure to the sector. Stock selection is focused on identifying strong management teams within companies producing market leading products along with sustainable or improving profits. Although stock selection is at the heart of the investment process, the Fund manager recognises the importance of a thematic overlay. The fund invests in a number of themes, particularly around the next generation of computing and technological wizardry.

Live feed

Bid price(inc) 310.70p
Accum units 308.70p
Fund commentary
Fund data updated on 23/04/18

Asset allocation

Allocation Proportion(%)
Equity 97
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 0
Fund cash 3

Equity Geographic

Allocation Proportion(%)
UK 3
Europe 6
North America 82
Japan 0
Pacific 3
Emerging Markets 6

Equity Capitalisation

Allocation Propor
tion(%)
Large Caps 55
Mid Caps 26
Small Caps 19

Top 10 holdings

As at: 28/02/2018
9.17% Alphabet Inc
8.14% Apple Inc
7.35% Facebook Inc
4.31% Visa Inc
4.18% Cisco Systems Inc
2.51% Qualcomm Inc
2.45% Servicenow Inc
2.34% Amazon.com Inc
2.2% Adobe Systems Inc
1.94% Proofpoint Inc
Source: Trustnet

Sector breakdown

Internet 26%
Software 23%
Semi Conductors 19%
Hardware 11%
Communications Equipment 9%
Information Technology 6%
Retail 2%
Money Market 2%
Property Shares 1%
Healthcare & Medical Products 1%

Portfolio details

55-75 stocks

Constraints

A bias to mid & small caps; initial stock weights 1-1.5% and could increase to up to 3%
The portfolio usually has very little commonality with the Index and so performance can be expected to differ markedly on occasions.

Average monthly relative returns Bestinvest MRI
13/14 14/15 15/16 16/17 17/18   3 years 5 years Career 3 years 5 years Career
-0.12% 0.02% -0.44% 0.23% 0.13%   -0.03% -0.04% 0.07% 55.20% 54.80% 81.30%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Jeremy Gleeson

Manager. Gleeson joined AXA Framington in June 2007 to replace Nick Evans on their Global Technology Fund. He was previously senior portfolio manager of technology at Close Investments (formerly Reabourne Technology). Gleeson studied at Cardiff University (1992-96) where he achieved a first-class Honours degree in Mathematics and a Masters in Systems Engineering. He is a CFA charterholder.

Track record

Jeremy Gleeson has 10.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.07%. During the worst period of relative performance (from April 2011 - January 2016) there was a decline of 24% relative to the index. The worst absolute loss has been 34%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 81%.

Periods of worst performance
Absolute -34% (October 2007 - November 2008)
Relative -24% (April 2011 - January 2016)

Other funds managed

  Start Date
AXA FRAMLINGTON GLOBAL TECHNOLOGY RJun 2007

Sector record since June 2007 (11 yrs)




About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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