Sunday, 2 August 2009

RCM Technology Trust

(By Richard Holway 4.00pm Sunday 2nd august 09) As readers might know, I am a director of RCM Technology Trust plc. We’ve just published our interim results (to read Click here) with NAV up 19% and our share price up 18% in the six months to 31st May 09. The fund is invested in some 60 medium to large tech companies with a global emphasis. Top five holdings at the interim stage were Cisco, Google, First Solar, and Qualcomm. Indeed First Solar was one of the leading positive contributors to the fund. UK holdings include Capita and Autonomy.

On a personal note, this has been my first experience of an Investment Trust. Fortunately I am surrounded by a Chairman and other NEDs with significant Investment Trust experience – I’m only there to add the tech bit! Although the fund manager, Walter Price, is totally responsible for stock-picking.

Investment trusts (which are a bit like unit trusts) are for those that want a wide exposure to a particular sector without the hassle of investing directly in the companies themselves. In the interests of fairness, the two leading tech Investment Trust competitors in the UK to RCM are Polar and Herald.

More details, should you be interested, see RCM Technology Trust.

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