Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Munro puts cash to work in technology stocks

munro-partners/Munro-Global-Growth-fund/PayPal/Atlassian/Facebook/technology-stocks/nick-griffin/FE-Analytics/

9 June 2020
| By Laura Dew |
image
image image
expand image

There is a seismic shift taking place in technology which will be a benefit for the Munro Global Growth fund, although the outlook is “murkier” for what the new normal will look like after the pandemic. 

This shift was affecting holdings in the Munro Global Growth fund including payment provider PayPal, software firm Atlassian and social media giant Facebook, although only Facebook sat in the fund’s top 10 largest holdings at a 3.9% weighting. 

 Munro chief investment officer Nick Griffin said PayPal and Atlassian had been two of the fund’s biggest contributors to performance during May alongside renewable energy company Orsted, Alphabet and software firm ServiceNow. 

“We see a seismic shift occurring in the adoption of digital transformation at both enterprise and consumer levels. Consequently, we see an acceleration ahead for many of our investments.” 

In April, the fund had a 14% weighting to cash but this had since fallen to 6% in May and Griffin said the fund was fully invested and was protecting against the downside through hedging tools rather than holding cash.  

However, he was hesistant about what the world would like in the future as the world re-emerged from the pandemic. 

“The outlook is murkier due to a range of issues including a second COVID-19 wave, social unrest and increasing trade tensions.” 

The Munro Global Growth fund has returned 24% over one year to 29 May, according to FE Analytics, versus returns of 8.5% by the global sector.  

Performance of Munro Global Growth fund versus global sector over one year to 29 May, 2020 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

2 days 3 hours ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks 6 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

4 weeks ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

4 days 21 hours ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND