Technology company Polar Capital is shifting its focus away from the 'magnificent 7' tech stocks.

Polar Capital Technology: A Long-Term Investment in the Heart of AI and Tech

Polar Capital Technology, a FTSE100 listed investment trust, manages assets totalling £12.3 billion. With an annual charge of just under 0.8 percent, it offers a sound strategy for monthly investments.

The portfolio of Polar Capital Technology is centred around the 'magnificent seven' stocks: Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. Collectively, these seven stocks represent a third of the portfolio, less than the 56% they account for in the Dow Jones Global Technology Index.

Ben Rogoff, joint manager of the trust, believes that artificial intelligence is reshaping the technology landscape. As a result, Rogoff has been gradually reallocating the portfolio away from the magnificent seven. For instance, he has disposed of some stocks, such as US software company Salesforce, as the software it provides is being supplanted by AI.

Rogoff's mission as the trust's managers is to give investors exposure to a broad church of companies and technology themes. In addition to the magnificent seven, the Polar Capital Technology portfolio includes companies that provide the hardware and power necessary for AI to function. Examples include GE Vernova, Vertiv, Siemens, Rolls-Royce, Corning, and Belimo.

The trust also invests in companies complementing the magnificent seven, with a particular focus on the energy supply sector for AI data centers. However, the specific company names are not detailed in the provided search results.

Over the past one, three, and five years, Polar Capital Technology has delivered returns of 36.6, 96.1, and 85.3 percent respectively, outperforming the average for the technology and technology innovation sector over three and five years.

Investing in Polar Capital Technology requires a long-term commitment and the acceptance of a potentially volatile investment journey. The stock market ticker for Polar Capital Technology is PCT and the identification code is BR3YV26.

Polar Capital manages three funds, including Polar Capital Technology, Artificial Intelligence, and Global Technology. For those interested in DIY investing, it is essential to note that this article does not mention any specific platforms.

In conclusion, Polar Capital Technology provides a unique opportunity for investors to gain exposure to the heart of AI and tech, with a focus on a broad range of companies and themes. However, as with any investment, it is crucial to consider the potential risks and make informed decisions.

Technology company Polar Capital is shifting its focus away from the 'magnificent 7' tech stocks.