BNP Paribas Asset Management has transferred assets from a technology fund into a new fund targeting disruptive digital trends.
The firm has launched the Parvest Disruptive Technology fund which includes assets from the former Parvest Equity World Technology (Classic) fund and is managed by the same manager, Pam Hegarty.
Hegarty, of BNP Parbas AM’s global specialist and thematic equity team, is based in Boston, though the fund is part of the firm’s Parvest Luxembourg Sicav.
The portfolio may have 30 to 50 holdings in companies with a minimum market capitalisation of $1 billion (€843 million) in the MSCI World Index.
The companies it invests in are “enabling or benefiting from transformative technology themes” and include Facebook.
Examples in the consumer sector include e-commerce, home automation and driverless cars, while financial services are benefiting from digitisation, fraud prevention, payment technology and blockchain, the firm said.
Hegarty said: “We believe that companies that enable or adopt innovative technologies and business models will produce superior long-term growth and returns on invested capital.”
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