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Companies: FCIT IBT ANII MAVT IEM MIGO ATST JGC AIE WTAN JAM BBH ATT ATT
Kepler | Trust Intelligence
Ahead of our spring conference, we ask whether investors need to junk their portfolios and start again
Companies: BGFD BRLA BRWM BRSA ATT ATT
Despite ATT’s strong long-term performance, it trades at an attractive discount
Companies: Attendo AB (0RCY:LON)Allianz Technology Trust PLC (ATT:LON)
Allianz Technology Trust (ATT) offers investors a specialist, bottom-up investment approach to the global technology sector, with the sole objective of total return maximisation. ATT is led by an experienced four-strong team, with the lead managers Walter Price and Huachen Chen having been working together for over 30 years. The team often follow a thematic approach to their stock selection, believing their holdings to be the ‘winners’ of the emerging trends within technology by (for example) o
Companies: Attendo AB
Large-cap technology stocks have dominated global markets in recent years, especially in the US where the FAANGs (Facebook, Amazon, Apple, Netflix and Alphabet) have reigned supreme. Combined, the FAANGs and Microsoft currently make up 12% of global equity markets while also having been amongst the best-performing companies globally. Yet we think the future doesn’t look as bright for these giants, with a series of antitrust suits on the horizon and declining tailwinds from COVID-19 lockdowns. Th
Companies: BASC BRSA USA JMI JAM ATT
In times of crisis, the Romans would consult the Sibylline Prophecies. Contained therein was a prophecy that the 12 vultures seen by Romulus as he founded Rome (despite founding a start-up he still had time left for birdwatching, living before the modern-day culture of investors demanding updates) represented a signal that the primacy of Rome would last 12 saecula, a saeculum being a period taken as something between 85-100 years. With Rome and the Western Roman Empire falling to the Visigoths i
Companies: ASL BRLA BRWM MAVT CMPG AJOT AIE MINI CCJI ATT
Allianz Technology Trust (ATT) is a highly differentiated trust offering exposure to technology stocks, with its managers seeking to capitalise on the winners of emerging trends within the sector. The trust’s allocation is spread across a range of market caps, with a current overweight to mid-caps compared to its mega-cap-dominated benchmark. COVID-19 has created a turbulent yet positive period for the technology sector, accelerating the adaption of several trends with examples including working
Your author had a dentist appointment booked for the day after dentists were ordered to stop work in March. Luckily he was able to finally have the work done two weeks ago, with a £38 surcharge for PPE. Meanwhile anyone celebrating the lifting of lockdown with a haircut has probably noticed a similar price increase, as companies pass on the extra costs they have incurred in complying with the new regulations. We suspect that many people are underestimating the inflation that is coming down the t
Companies: TIGT RICA ATT
2020 has so far proven to be the latest episode in a long period of technology outperformance, as we observed in this article. Over the past decade, technology-related companies have tended to perform like consumer staples or defensives on the downside, and like high-growth discretionary stocks on the upside: an ideal combination from the investor’s point of view. As a result the indices (and fund managers’ portfolios) are increasingly correlated to ‘big tech’. How do investors who want a divers
Companies: PCT IBT IEM BERI MWY UKW SMT MHN BBH ATT
In the financial markets, the biggest winners from the crisis so far have – without a doubt – been the technology sectors. Software, hardware, ecommerce and related sectors have outperformed in the immediate aftermath (as we discussed in a recent strategy note). They also seem likely to benefit from some of the likely long-lasting changes to society that the crisis will forge. This is the latest episode in a long period of outperformance. Looking back over the past decade, technology-related com
Companies: JFJ MNL PCT MWY BBOX SMT ATT
The COVID-19 related shutdown has seen the largest US companies extend their share price performance leadership even further, and they are generally assumed to be the winners from any changes to the economy. In part, this outperformance reflects increased certainty that these companies are the beneficiaries from a change in working practices and structural shifts in the economy, but this outperformance has been a longer-running trend. Investors with US equity exposure might be tempted to tilt in
Companies: PCT JAM ATT
Allianz Technology Trust (ATT) is a highly differentiated and actively managed trust, aiming to profit from technological innovation and disruption. Importantly, the trust uses its structural advantages to invest, from time to time, in mid-cap high growth companies as well as large and mega-caps. As we discuss in the Performance section, this has helped the trust to outperform peers and the benchmark over the longer term. The recent equity market fall has prompted some rapid adjustment by the te
The COVID-19 pandemic is far from over, but with March coming to a close we have perhaps seen the end of the first act. Most of the developed world is in various degrees of ‘lockdown’; anxiously watching poorly reported – and often poorly understood – numbers for indications that their government’s strategy is working. Meanwhile equity markets saw one of their worst ever quarters in Q1 2020, as whole swathes of the economy were shut down by government diktat. The speed with which the situation d
Companies: MNL TIGT FGT BGUK RICA MWY USA SMT BHMG PSH ATT BGEU
Technology has been one of the most prominent investment themes globally in recent years, and the sector is growing to encompass an ever more diverse array of companies. One option for investors looking to exploit this theme with a highly experienced specialist investment team and strong long-term track record is Allianz Technology Trust (ATT). The ATT team, led by Walter Price and Huachen Chen, are focused on areas of ‘innovative disruption’, looking to construct a portfolio of around typicall
Research Tree provides access to ongoing research coverage, media content and regulatory news on Attendo AB. We currently have 9 research reports from 5 professional analysts.
Companies: BILN IGP RBN SBTX
Cavendish
Verici’s $8.2m gross raise means the company can now focus on scaling Tutivia and invest further into the development of existing and new products. With a uniquely well balanced Tutivia test, a growing sales team and LCD coverage expected later this year, we forecast Tutivia revenues of $2.6m/$4.5m in FY24E/FY25E. The Thermo Fisher deal was a huge validation of Clarava and Verici’s technology and in addition to licensing/milestone payments, we forecast double digit royalties on net Clarava sales
Companies: Verici Dx Plc
Singer Capital Markets
26th March 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object
Companies: BIRD MBH CHRT INSE KMK FNTL HDD JNEO CCS
Hybridan
Companies: Aptamer Group Plc
Turner Pope Investments
SkinBioTherapeutics has reported on the 6-months to December 2023, noting steady revenue growth from lead product AxisBiotix-Ps, progress on the development of SkinBiotix with partner Croda (Sederma) and post-period end, the acquisition of Dermatonics. The company has updated on several positive developments through the start of 2024, including AxisBiotix Acne positive interim results, initiation of research on the MediBiotix Pillar and progress with the oral and inflammation programmes. The com
Companies: SkinBioTherapeutics Plc
Companies: CLBS GHH NANO TRX SAVE TMT GELN
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (
Companies: TXG NDVA TSVT BCOW Z29 TXG NCYT GNS SUN AMS OMG APH EKF EAH IMM AGL DEMG AGY TSTL IPO GDR ETX TRX HVO CTEC AVO OXB DEST VLG IXI VAL INDV AGR AVCT BAI 123F IMCR BCOW
Hardman & Co
On 18th December 2023 Incanthera announced a deal with Marionnaud in Switzerland to distribute ‘Skin+CELL’, its advanced dermatological solution for the delivery of vitamin B3 for skin protection and cosmetic rejuvenation. This gives Incanthera access to a high-end cosmetics distribution presence in Europe, and in addition, ownership of Marionnaud by AS Watson, the largest cosmetics distributor in Asia, offers significant new market opportunities further afield.
Companies: Incanthera Plc
Stanford Capital Partners
FY EBITDA and EBIT came in materially above consensus FY EBITDA came in at EUR98.8m, down 4% yoy and 12% above consensus. The EBITDA margin was 12.6%. Restated for one-off costs, it was 13.1%, more than 2 percentage points above the guidance. It was fully explained by price increases, notably on X-ray, mix and control of fixed costs. FY EBITA came in at EUR38m, 46% above consensus. 2024 guidance looks conservative Guerbet is aiming for organic growth above 8% (8.8%e). With markets growing at
Companies: Guerbet (GBT:EPA)Guerbet SA (GBT:PAR)
BNP Paribas Exane - Sponsored Research
IRLAB Therapeutics has confirmed the FDA’s alignment with its proposed Phase III programme for mesdopetam in levodopa-induced dyskinesias (PD-LIDs), following receipt of the minutes from its end-of-Phase II (EoP2) meeting held last month. Notably, the FDA has agreed on the primary endpoint being the Unified Dyskinesia Rating Scale (UDysRS), on which mesdopetam demonstrated a statistically significant improvement (p=0.026) in the Phase IIb study (secondary endpoint of that study). IRLAB will now
Companies: Irlab Therapeutics Ab
Edison
Tissue Regenix has reported on strong performance through 2023, noting record revenues driven by product adoption and expanded distribution, positive adjusted EBITDA for the first time and an increased cash position versus H1/23. FY23 revenues grew 20% to $29.5m supported by 25% growth from BioRinse products and 17% growth from dCELL products. Significantly, Tissue Regenix reported its first adjusted EBITDA profit for the year, +$0.9m, supported by revenue growth and cost management. We expect t
Companies: Tissue Regenix Group plc
Creo Medical has published a trading update for the 12 months to December 2023, during which the company focused on commercialising its core technology. Revenue for the period increased 13% YoY to £30.8m, while the underlying operating loss improved to £16.4m. Operationally, during the period, the number of confirmed users of Creo’s Speedboat range more than doubled over the year, the first procedures with MicroBlate Flex to ablate lung tumours were performed and Creo expects to receive regulato
Companies: Creo Medical Group Plc
Companies: NTQ KMK JNEO DCTA
LungLife AI is a medical diagnostics company focused on the development of AI-supported blood-based tests for the early detection of lung cancer. It has identified a significant medical need for non-invasive, sensitive and specific tests in early-stage lung cancer. The company’s core technology, the LungLB test, seeks to detect circulating tumour cells (CTCs) to identify malignant lung nodules. It aims to apply machine learning/AI (ML/AI) to derive algorithms to increase test accuracy. Following
Companies: LungLife AI, Inc.
This month's feature article is entitled 'Gold and a Chinese Credit Event'. A Western phenomenon? If you own, or are considering owning, gold or gold equities, it’s likely that you’re concerned about protecting your wealth, or the performance of your fund, in the expectation of some kind of financial instability. Maybe your confidence in policymakers is ebbing, or you’ve researched debt bubbles in history and concluded that physical gold and silver have been the safest places to be invested whe
Companies: NBPE ICGT ARBB CSN RECI CLIG HAT AVO STX VTA APAX
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