Wealth Matters, Q2 2023: Technology on Top for Now

In our latest edition of Wealth Matters, Joe Prendergast, Global Strategic Advisor, asks has tech become the new defensive sector?

“World equities have been consolidating in a broad range below their late 2021 highs. Having bottomed out alongside the peak in bond yields last October, the world market has been edging unsteadily higher. Despite the volatility centred on the banking sector in March and the drag of the stronger euro, the FTSE All-World Equity Index is up over 6% in euro terms in the new year to mid-May. The Information Technology Sector is up a more dramatic 20% year-to-date, which is worth looking at in more detail” he states. 

Other highlights in this edition:

  • Excess cash in a time of high inflation is both a blessing and a curse. While it’s essential to have money in the bank for ongoing spending and emergencies, cash that is sitting in your account may be losing value. Head of Fixed Income, Elizabeth Geoghegan, examines how much cash to keep on reserve and how to get the rest of it working for you.  
  • Whether you choose to sell your business or intend to pass it on to the next generation, exiting your business is one of the most important personal and professional decisions any entrepreneur can make. Head of Tax, Catriona Coady summaries the preparation and planning that are key to achieving the best outcome.
  • Some market commentators have suggested that the Information Technology sector may be a new ‘defensive’ sector like Healthcare, Consumer Staples, and Utilities. Senior Research Analyst, Sebastian Orsi CFA, outlines why it’s too early to tell, and how there may be other risks inherent in the mega-cap stocks.

For a comprehensive picture of our views, read the full report below or click here  to view the report in your browser.

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