FTSE tech index performance eclipses FTSE 100 over last 12 months

Charles Incledon, Client Director quoted in Property Funds World, 18th February 2021

The US listed tech sector contains some of the biggest winners from the pandemic including tech giants Amazon, Apple, Netflix and DocuSign, the online signature platform, which has seen its share price more than treble in 12 months. However, Bowmore Asset Management says that some US tech stocks are now suffering from overstretched valuations.

Bowmore also points out that many listed UK tech companies have been acquired in recent years depriving the UK index of that boost to its performance. Takeovers of leading UK tech businesses include the acquisition of chip designer Arm and Inmarsat, the satellite telecoms provider.

Read more: https://bit.ly/3qxWspT

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