UOBAM partners US manager to reboot technology fund

Singapore

UOB Asset Management is rebooting its technology-focused fund via a new partnership with US-based investment management firm T Rowe Price International, amid heightened competition and retail investors' demand for exposure to the technology wave.

The asset management firm will invest in T Rowe Price's global technology equity strategy through the United Global Technology Fund, it said on Wednesday.

Checks on the United Global Technology Fund's existing performance showed that its 10-year return - after taking in the sales charge - was 3.43 per cent as at March 2017. By comparison, the fund's applied benchmark returned 7.82 per cent. The fund, launched in 1997, counts Google's parent Alphabet, M…