Allianz Technology Trust (ATT) 2019年年度报告「LSE」.pdf

1、Annual Financial Report31 December 2019Allianz Technology Trust PLCInvestment objectiveAllianz Technology Trust PLC(the Company)invests principally in the equity securities of quoted technology companies on a worldwide basis with the aim of achieving long-term capital growth in excess of the Dow Jon

2、es World Technology Index(sterling adjusted,total return)(the benchmark).Investment policyThe investment policy of the Company is to invest in a diversified portfolio of companies that use technology in an innovative way to gain a competitive advantage.Particular emphasis is placed on companies that

3、 are addressing major growth trends with innovation that replaces existing technology or radically changes products and services and the way in which they are supplied to customers.What constitutes a technology stockThe investment management team views technology companies as those with revenues pri

4、marily generated by the application of technology products and services.This is divided into two areas:Traditional telecommunications,media and technology(TMT)segments which include Internet,computers and computer peripherals,software,electronic components and systems,communications equipment and se

5、rvices,semiconductors,media and information services.Non-traditional technology companies are those in various other industries that use technology in an innovative way to gain a strategic,competitive edge.As technology becomes ever more pervasive,it is increasingly difficult to differentiate betwee

6、n technology companies and significant adopters as outlined above.Much is spoken of disruptive technologies those which will force change within an industry and which may often displace the dominance of incumbent market leaders.The challenge is to understand not only current technologies,but also fu