Technology needs an ecosystem. That’s the opportunity

With megatrends like artificial intelligence and “Digital Darwinism” disrupting the business landscape, the tech sector is poised to remain a key driver for equity markets and a crucial element in client portfolios in the decades to come. This is why the Equity platform has enriched its offering with a new high level strategy, led by Jeremy Gleeson. With his team, Jeremy is complementing our significant, existing on-the-ground technology expertise, comprising ecosystems in both Europe and Asia.

Q: Jeremy, what sparked your interest in technology?

I’ve been running technology funds for over 27 years, but my real passion for technology started much earlier. After completing a maths degree, I was unsure of my career path until a professor directed me towards a new master’s course in systems engineering.

In 1997, while applying for IT jobs, I discovered that not only IT departments but also fund managers were in dire need of people who understood technology. This led me to a technology investment boutique, where I combined my tech knowledge with financial skills learned on the job and through my CFA studies. This blend of expertise allowed me to navigate and invest in the rapidly growing tech market.

Q: What excites you most about joining AllianzGI and leading this new team?

I was excited by the opportunity to join a new team at AllianzGI, with the chance to grow the business from a clean slate with the full backing of AllianzGI. The energy and commitment I sensed during the interview process, with consistent support from across the organization, were major attractions.

Additionally, I was intrigued by the breadth of the team, not just in London but also in Frankfurt and across Southeast Asia. The strategic role of Asia in global technology is evolving, and having resources on the ground in places like Hong Kong and Taiwan is a significant advantage. This global perspective and support network are key differentiators for us. The extensive distribution network at AllianzGI was another key factor in my decision to join, and I’m excited to leverage it for our growth.

Q: What are your immediate priorities for the new team?

Our team is now three strong. I am joined by Portfolio Managers Sunil George and Brad Reynolds. Brad is a former colleague who joined AllianzGI recently. This gives us the breadth to cover the global technology universe, supported by our colleagues in Asia.

Next, we aim to attract new assets to grow the fund beyond its current USD 500 million AuM. We would like to grow that to be significantly larger than what it already is. This involves delivering strong performance and collaborating with our distribution colleagues to engage clients. 

Q: How would you describe your investment style or philosophy?

My investment style is rooted in long-term strategies, focusing on identifying high-quality companies with large addressable markets that can sustain growth over many years. I believe that investing in such companies, which can compound growth and deliver substantial returns for shareholders, is more effective than chasing short-term gains. My approach involves recognising long-term trends and themes driving the technology sector and finding companies best positioned to capitalise on these opportunities.

Avoiding short-term fads and niches is crucial in my strategy, as these can be highly volatile and unpredictable. Short-lived opportunities that can fade as quickly as they appear. Instead, I focus on companies with solid management teams, innovative solutions, and significant growth potential. This long-term perspective helps mitigate the risks associated with sudden market changes, ensuring that investments are resilient and aligned with enduring market trends.

Q: Where do you see opportunities in the tech space right now?

I believe that technology needs an ecosystem, not a single company. And that’s the opportunity. Currently, the market has been narrow with a few mega-cap companies benefiting. However, this will likely broaden, allowing small and mid-cap tech companies to gain from AI, self-driving cars, and increased consumer and enterprise spending. Our expertise lies in identifying these less obvious, regional opportunities beyond the US-centric focus. While mega-cap names dominate now, the real opportunity will come from the success of these smaller players. In terms of themes beyond AI, one long-term trend out there which we talk about are productivity enablers, i.e. firms that will help others drive efficiency via the adoption of new technology. This is an area which can offer interesting investment opportunities.

  • Disclaimer
    Investing involves risk. The value of an investment and the income from it will fluctuate and investors may not get back the principal invested. Past performance is not indicative of future performance. This is a marketing communication. It is for informational purposes only. This document does not constitute investment advice or a recommendation to buy, sell or hold any security and shall not be deemed an offer to sell or a solicitation of an offer to buy any security.

    The views and opinions expressed herein, which are subject to change without notice, are those of the issuer or its affiliated companies at the time of publication. Certain data used are derived from various sources believed to be reliable, but the accuracy or completeness of the data is not guaranteed and no liability is assumed for any direct or consequential losses arising from their use. The duplication, publication, extraction or transmission of the contents, irrespective of the form, is not permitted.

    This material has not been reviewed by any regulatory authorities. In mainland China, it is for Qualified Domestic Institutional Investors scheme pursuant to applicable rules and regulations and is for information purpose only. This document does not constitute a public offer by virtue of Act Number 26.831 of the Argentine Republic and General Resolution No. 622/2013 of the NSC. This communication’s sole purpose is to inform and does not under any circumstance constitute promotion or publicity of Allianz Global Investors products and/or services in Colombia or to Colombian residents pursuant to part 4 of Decree 2555 of 2010. This communication does not in any way aim to directly or indirectly initiate the purchase of a product or the provision of a service offered by Allianz Global Investors. Via reception of this document, each resident in Colombia acknowledges and accepts to have contacted Allianz Global Investors via their own initiative and that the communication under no circumstances does not arise from any promotional or marketing activities carried out by Allianz Global Investors. Colombian residents accept that accessing any type of social network page of Allianz Global Investors is done under their own responsibility and initiative and are aware that they may access specific information on the products and services of Allianz Global Investors. This communication is strictly private and confidential and may not be reproduced, except for the case of explicit permission by Allianz Global Investors. This communication does not constitute a public offer of securities in Colombia pursuant to the public offer regulation set forth in Decree 2555 of 2010. This communication and the information provided herein should not be considered a solicitation or an offer by Allianz Global Investors or its affiliates to provide any financial products in Brazil, Panama, Peru, and Uruguay. In Australia, this material is presented by Allianz Global Investors Asia Pacific Limited (“AllianzGI AP”) and is intended for the use of investment consultants and other institutional /professional investors only, and is not directed to the public or individual retail investors. AllianzGI AP is not licensed to provide financial services to retail clients in Australia. AllianzGI AP is exempt from the requirement to hold an Australian Foreign Financial Service License under the Corporations Act 2001 (Cth) pursuant to ASIC Class Order (CO 03/1103) with respect to the provision of financial services to wholesale clients only. AllianzGI AP is licensed and regulated by Hong Kong Securities and Futures Commission under Hong Kong laws, which differ from Australian laws.

    This document is being distributed by the following Allianz Global Investors companies: Allianz Global Investors GmbH, an investment company in Germany, authorized by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Allianz Global Investors (Schweiz) AG; Allianz Global Investors UK Limited, authorized and regulated by the Financial Conduct Authority; in HK, by Allianz Global Investors Asia Pacific Ltd., licensed by the Hong Kong Securities and Futures Commission; in Singapore, by Allianz Global Investors Singapore Ltd., regulated by the Monetary Authority of Singapore [Company Registration No. 199907169Z]; in Japan, by Allianz Global Investors Japan Co., Ltd., registered in Japan as a Financial Instruments Business Operator [Registered No. The Director of Kanto Local Finance Bureau (Financial Instruments Business Operator), No. 424], Member of Japan Investment Advisers Association, the Investment Trust Association, Japan and Type II Financial Instruments Firms Association; in Taiwan, by Allianz Global Investors Taiwan Ltd., licensed by Financial Supervisory Commission in Taiwan; and in Indonesia, by PT. Allianz Global Investors Asset Management Indonesia licensed by Indonesia Financial Services Authority (OJK).

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With megatrends like Artificial Intelligence and ‘digital Darwinism’ disrupting the business landscape, the Technology sector is poised to remain a key driver for equity markets and a crucial element in client portfolios in the decades to come.

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