• Ranked first in category for longer-term returns
• Posted lowest risk measures among peers
• Provides exposure to the global technology space, with a slant towards Tech companies in developed markets

The Henderson Global Technology Fund returns to the list in 2012 for the 5th consecutive year, with its strong long term track record. The fund was ranked first (among five funds in the category) over the cumulative four-year and five-year periods ended March 2012. Over the five years ended March 2012, the fund’s 3.99% annualised return compares favourably with the 2.02% average return for funds in the category, one of only two funds in its category to have delivered double-digit cumulative returns. In terms of risk, the fund scored well, and was ranked first in terms of both its three-year downside deviation as well as maximum drawdown over a five-year period. The fund posted downside deviation of 8.0%, lower than the 9.5% average for its other 4 peers, while its -49.4% maximum drawdown was also less than the -52.7% average amongst the other funds.

The technology sector has been known to be a rather volatile segment of the market, as is typical of a sector widely regarded as a growth sector, but the Henderson Global Technology Fund has shown its ability to navigate a rapidly changing sector with an eye on growth and the other on risk management, as evidenced by the fund’s track record. As of 31 March 2012, the fund had a substantial portion of its assets in US technology equities (78.5% of the portfolio), with just 8.3% of the fund invested in South Korea and Taiwan. Investors might be interested to learn that the fund is limited to owning no more than 10% of its holdings in Apple Inc, granting them exposure to the tech sector without over-concentration to a giant. This fund would thus appeal to investors who are looking for global technology exposure with a slant towards technology companies in developed markets. While the fund is denominated in SGD, investors should note that their currency exposure will be to the various currencies of the underlying markets that the fund is invested in.

Stuart O’Gorman is the lead fund manager, and is supported by fund manager Ian Warmerdam. Stuart commenced management of the underlying fund, Henderson Horizon Global Technology Fund in January 2001. In addition to Stuart and Ian (who both hold the title “Director of Technology Equities”), the technology team at Henderson Global Investors also comprises of Gordon Happell (Investment Manager), Giles Tulloch (Investment Analyst) and Ronan Kelleher (Fund Manager Assistant). The team is based in the company’s Edinburgh office.