There cannot be many ‘industrial’ sectors that are experiencing more rapid growth and change than the technology industry.
|Philip Pearson and Antony Burton|
At a company level, the sector’s biggest names – Apple, Facebook, Google and the rest – are constantly making headlines and presenting rich opportunities for a long/short equity manager, with stockmarket valuations and growth forecasts that are mind-boggling.
But the industry-wide innovation story is arguably even more interesting, and it is that story that is providing most of the investment ideas for Philip Pearson and Anthony Burton, the experienced managers of the successful and well-established GLG Technology Fund.
Pearson has managed the hedge fund since launch in June 2002, with Burton coming onboard in mid-2008 as joint manager. As the fund approaches its 10-year anniversary later this year, returns over its lifetime have been overwhelmingly positive: it has recorded just one down year – a 10% drop...