Ibercaja Tecnológico: Investment Philosophy

Ibercaja Tecnológico is an internationally focused equity fund that directs its investments in companies in the information technology and telecommunications services sector, with a focus on the United States, Europe and Japan. The main objective of the fund is to achieve long-term returns through strategic equity investments in technology and telecommunications companies.

The fund is designed for investors seeking long-term international equities and who wish to diversify their portfolios by investing in the sectors it focuses on.

The recommended minimum investment term is set at 5 years, which is consistent with a long-term investment approach.

The fund currently manages a substantial portfolio worth €518 million from almost 20,000 investors and charges a management fee of 1.9% and a custody fee of 0.2%. The minimum investment threshold is €300.

Looking at the fund's performance over various time periods, it has shown a decent return of 13.5% over 5 years. However, over 3 years, this figure has fallen slightly to 11%. Notably, the last twelve months have seen a significant upturn, with a return of 37%, due to significant losses in 2022 (down 31%) and significant gains in 2023 (up 40%).

The fund's favorite stocks

He favors leading U.S. technology stocks that contributed significantly to his strong performance for the year.

He primarily chooses Microsoft, which has a weighting of 9.1% in the portfolio. The giant has enjoyed increased investor interest in artificial intelligence and is currently trading at record highs.

It is followed by Alphabet, Google's parent company, with a portfolio weight of 9.05%. The company is not performing as impressively in the market as Microsoft and has faced notable setbacks since the release of its first quarter results.

In third place is Apple with a portfolio weight of 8%. However, the iPhone maker is having a bad year in the stock market, facing investor skepticism about its growth prospects, especially for its business in China.

In fourth place is Nvidia, which is enjoying success in the market as the main beneficiary of the surge in artificial intelligence, acting as a major supplier of the chips needed for its development. It has a 6.6% share of the portfolio.

Fifth place goes to Meta, the parent company of Facebook and Instagram, which recently experienced a significant surge in the stock market after announcing its first dividend and a $50 billion share buyback. Its weighting in the portfolio is 6.27%.

Sixth on the list is ASML, a European company leading the way in manufacturing equipment for advanced microchip manufacturing. The company has witnessed an upswing in the market since the release of favorable results, earning it a place as a favorite among European investors. Its weight in the portfolio is 4%.

In seventh place is Varonis Systems, a relatively unknown American company specializing in security software platforms, with a smaller portfolio weight of 2.92%.

The eighth position is held by Netflix, an online content platform that recorded strong growth after the release of its results and beat forecasts for new customer acquisition. Its portfolio weighting is 2.81%.

In ninth place is Amazon with a portfolio weight of 2.69%. The e-commerce giant received a favorable market reaction and showed an increase in profitability in its results.

Rounding out the top ten is Oracle, a global leader in software development, with a portfolio weight of 2.68%. Together, these ten stocks make up just over 54% of the fund's total weighting.


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