As well as having a global mandate, the Ignis International Global Technology Fund will not be constrained by cap size or index weightings. The Dublin-domiciled proposition will hold between 40 and 55 stocks, aiming for long-term capital growth under the management of Geoff Paton.
Paton joined Ignis US team in April last year and has a track record of running the Abbey Technology Unit Trust between 2000 and 2004 when he left to join Henderson where he was director of technology and manager of the Henderson Global Technology and the Henderson Horizon Global Technology funds.
He will have the flexibility to invest in broad technology areas such as medical technology, biotech and alternative energy.
Ignis confirmed plans to apply for a UK and continental European registration after the initial offering has built up a successful track record, ideally over the coming six to 12 months. Until then it will not be actively promoted it to third-party investors.
