Alex Brown & Sons polled over 120 institutional investors representing nearly $1,000,000m of investors’ assets ahead of its technology conference and found that 25% expect technology stocks to outperform the market significantly over six months, 11% see the group slightly underperforming the market and 2% see significant underperformance; the balance, 42%, see modest outperformance; 42% also said they regarded communications technology stocks as the most attractive investment opportunities, followed by enterprise software at 12%, with 10% favouring communications services; least attractive areas are seen by 34% as computer services, followed by semiconductors and enabling components at 20%; 36% have between zero and 5% of their portfolios in cash and 23% have cash holdings of 6% to 10%; only 4% have as much as 26% to 30% of assets in cash; as to how great a percentage of the managers’ portfolios is currently invested in technology stocks, 33% said more than 35%, 21% said they have between 16% and 20% and 18% held between 21% and 25%.
