Allianz Tech trims Tesla for Visa and Mastercard as it repositions towards value

Valeria Martinez
clock • 3 min read

The £1bn Allianz Technology trust (ATT) has repositioned the portfolio to be more value orientated as part of a raft of changes introduced since new lead manager Mike Seidenberg took the reins in July. His appointment followed the retirement of long-standing fund manager Walter Price, who had been at the helm of the trust for nearly 15 years, and colleague Huachen Chen at the end of this year.  The portfolio, which is typically concentrated in 40 to 70 mid-cap growth names, has sold and reduced many of its positions in the last year and a half amid concerns for the macroeconomic envir...

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