Fund rules stifle tech sector performance, SEB says after passing troubled fund to Blackrock

Last week, SEB decided to outsource management of its tech fund from SEB IM to Blackrock after years of underperformance. In a response to AMWatch, SEB admits the performance has been unsatisfactory but also notes that rules for UCITS funds' diversification had made "very difficult" to perform in the tech sector.

Photo: PR/SEB

The challenges that SEB's troubled Technology Fund has recently been facing mainly stem from technology becoming a sector where a few companies have a high index weight and have been the sectors' main drivers of performance, SEB says in a written comment to AMWatch.

Last week, SEB announced it will outsource the management of the fund from SEB Investment Management to Blackrock.

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