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Allianz Technology Trust (ATT) investor relations material
Allianz Technology Trust H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net Asset Value (NAV) per share rose 44.6% to 826.7p for the six months to 30 June 2026, significantly outperforming the benchmark's 25.8% gain.
Ordinary share price increased 42.7% to 752.0p over the same period.
Strong performance driven by stock selection in semiconductors, IT services, software, and data-centre-related areas, with AI infrastructure a key contributor.
Market volatility was influenced by geopolitical tensions, but technology shares rebounded on AI optimism and mega-cap IPO activity.
The continuation vote at the AGM passed with 98.7% support, confirming shareholder confidence.
Financial highlights
NAV per share: 826.7p at 30 June 2026 (up from 571.7p at 31 December 2025).
Ordinary share price: 752.0p at 30 June 2026 (up from 527.0p at 31 December 2025).
Profit attributable to shareholders: £868.8m for the half year (vs £44.9m for the same period last year).
Earnings per share: 249.85p (vs 11.89p for the same period last year).
Ongoing Charge Figure (OCF) reduced to 0.61% (from 0.62%).
Outlook and guidance
Short-term tech stock performance may be affected by geopolitical and macroeconomic developments, especially US-Iran relations.
Long-term outlook for technology remains robust, with AI, semiconductors, memory, data centres, and optical networking highlighted as key growth areas.
Disciplined, bottom-up stock selection remains central to the investment approach.
- NAV up 24.7% in 2025, led by semiconductors and AI, with discount narrowed via buybacks.ATT
H2 2025 - NAV per share outperformed the benchmark, driven by AI and digital infrastructure exposure.ATT
H1 2025 - NAV up 28% and share price up 30.6% in H1 2024, led by semiconductors and mega-cap tech.ATT
H1 2024 - NAV and share price surged over 35%, with strong tech sector returns and active risk management.ATT
H2 2024
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