Ignis Asset Management is to launch a Global Technology fund, to be managed by Geoff Paton.
The group plans to soft-launch the Dublin-domiciled fund in the fourth quarter. It will hold 40-55 stocks and be benchmarked against the MSCI All Countries Global IT index.
The fund will mark Ignis’s first move into the technology sector. It will have no geographical, index weighting or market capitalisation constraints. (article continues below)
Paton has run technology funds at Abbey and Henderson Global Investors. He joined Ignis last year as an investment manager on the American team.
Ignis says it wants to build a credible track record for the fund before it attains British and continental European registration.