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GAM STAR TECHNOLOGY

Reasons to Invest

Exceptional opportunities

The third generation shift in internet-enabled technologies continues to generate seismic changes, resulting in a wealth of opportunities for experienced investors.

Identifying emerging ideas

The market tends to underprice new technologies as each paradigm shift occurs more and more rapidly.

Digital disruption

A huge increase in global mobile subscriptions, replacement of knowledge-based jobs, machine-to-machine communications and cloud technology show that digitalisation is here to stay.

Deepening opportunity set

Established companies are evolving their business models by seeking out new technologies, thereby deepening the opportunity for future growth.

Our Edge

Specialist tech expertise

Experienced in identifying both ‘game changers’ and companies whose early or aggressive adoption of the right technologies will allow them to gain competitive advantages.

Active approach

The team believes that a benchmark- agnostic approach is the most effective way to generate outperformance in a rapidly evolving sector.

Skilled stock selection

The team’s proven ability to pick winning stocks comprises the main component of added value in the portfolio.

Robust risk controls

A focus on risk management is central to portfolio construction, as the protection of capital will support the generation of sustainable returns over the long term.

Philosophy and Process

Investment Philosophy

The team believes a flexible approach to investing is particularly well-suited to the technology sector, given the rapidly evolving nature of the marketplace. They believe that markets are often irrational, thus the key to success is flexibility in shifting the balance of time allocated to different core investment disciplines to suit prevailing market forces. Therefore, focus should be split between fundamental and technical analysis in order to capture opportunities as the elements that drive markets change over time.

Investment Process

The team’s process focuses on active stock selection in order to identify growth opportunities and disruptive themes. They seek to identify themes centred on change and innovation, which provide the richest source of opportunities in the fast-changing technology sector. The team explores the most promising companies in each sector, combining in-depth fundamental analysis to determine what to buy, and technical analysis to determine when to buy, which are combined to form a global portfolio of 40-60 stocks diversified across three to five key themes. They maintain a strong focus on risk management and examine each risk factor at stock and portfolio level closely through real time monitoring of daily profit and loss metrics, supported by independent risk oversight.

1. Identify themes

  • Apply rigorous research and tech experience
  • Focus on ‘disruptive technologies’

2. Analyse companies

  • Blend fundamental and technical analysis
  • Regular intensive company visits

3. Portfolio construction

  • 'What to buy’ to build a global portfolio
  • ‘When to buy’ to manage stock exposures

4. Risk management

  • Focus on capital protection
  • Three levels of risk oversight

Investment Team

GAM’s Technology Equity team is led by Mark Hawtin, Investment Director. With 35 years’ investment experience and 18 years’ experience investing in technology stocks, Mark has proven his ability to generate returns across numerous market cycles.

He is supported by David Goodman, Investment Manager, and Amanda Lyons, Investment Analyst. David is responsible for technical analysis to assist with portfolio construction and risk management and Amanda is responsible for researching and developing stock ideas focussing on internet, gaming and emerging technology.

The team applies specialist knowledge and experience in the tech sector to construct a liquid, scalable and diversified portfolio of global companies.

GAM Star Technology aims to invest in the biggest and most disruptive trends in technology today. Target investments must reflect both growth and innovation
Mark Hawtin, Investment Director.

Our Thinking

Investment Opinions 6 min read

WeWork IPO: a blurred line between hype and reality

Tuesday, October 15, 2019

The decision to withdraw the planned IPO of WeWork poses an interesting question of whether technology companies are becoming over-hyped once more. GAM Investments’ Mark Hawtin looks at the recent spate of disappointing IPOs in the technology space and considers whether the wave of irrational capitalism may be coming to an end.

6 min read
Weekly Manager Views 4 min read

Weekly Manager Views

20 September 2019

At GAM Investments’ Weekly Investment Meeting held on 18 September 2019 the speakers were Mark Hawtin, who discussed disruptive growth opportunities, and Ali Miremadi, who talked about the outlook for the global equities market.

4 min read
Investment Opinions 6 min read

Transport as a Service: a disruptive opportunity

3 September 2019

Transport as a service (TaaS) could represent an enormous disruptive opportunity, says GAM Investments’ Mark Hawtin. As the move from private vehicle ownership to vehicle sharing takes hold and efficiencies kick in there are likely to be some big winners and losers.

6 min read

Fund Information

Key Risks

Capital at risk

All financial investments involve an element of risk. Therefore, the value of the investment and the income from it will vary and the initial investment amount cannot be guaranteed.

Currency Risk - Non Base Currency Share Class

Non-base currency share classes may or may not be hedged to the base currency of the Fund. Changes in exchange rates will have an impact on the value of shares in the Fund which are not denominated in the base currency. Where hedging strategies are employed, they may not be fully effective.

Concentration Risk

Concentration in a limited number of securities and industry sectors may result in more volatility than investing in broadly diversified Funds.

Equity

Investments in equities (directly or indirectly via derivatives) may be subject to significant fluctuations in value.

Counterparty Risk / Derivatives

If a counterparty to a financial derivative contract were to default, the value of the contract, the cost to replace it and any cash or securities held by the counterparty to facilitate it, may be lost.

Resources

Fund profile – GAM Star Technology

Risk management at GAM

Contacts

GAM Star Technology is a sub-fund of GAM Star Fund p.l.c., registered office at George’s Court, 54-62 Townsend Street, Dublin 2, Ireland, an umbrella investment company.