Your global fund owns the tech giants. But what is it missing?

Past performance is no guarantee of future returns. The value of investments in funds may rise as well as fall, and you may not get back the full amount invested. Key information documents, fund information, sustainability-related disclosures and information about investors’ rights are available at www.storebrandam.com

1. What are you looking for that others might be missing?

We spend a lot of time looking at the companies behind the major trends. Take AI, for example. Everyone is talking about the technology itself, but making it work requires enormous amounts of electricity, new data centres, expanded power grids and stronger cybersecurity. That creates opportunities for companies that may not always be in the spotlight.

One example is Prysmian, a fund holding that manufactures power cables used to transmit electricity over long distances, including subsea. Another is CrowdStrike, which develops technology to detect and prevent cyberattacks.

2. What other opportunities do you see?

We look for companies addressing long-term needs across areas such as energy, water, healthcare and digital infrastructure. Water is a good example. Huge volumes of drinking water are lost through leaking pipes, creating both economic costs and pressure on an already scarce resource. Xylem, one of the fund’s holdings, develops smart water meters and technology that can help detect those leaks.

We also see opportunities in expanding access to digital and financial services. Helios Towers operates telecom towers across nine markets in Africa and the Middle East, where internet penetration remains relatively low and smartphone adoption is growing. Vodacom, another fund holding, is helping expand access to affordable smartphones and also owns M-Pesa, a mobile payments platform that allows people to send, receive, save and pay money without a traditional bank account.

These are not short-lived trends. They are driven by large and persistent needs, which is precisely where we believe interesting long-term investment opportunities can emerge.

3. I already have a global index fund. What does Storebrand Global Solutions add?

A global index fund is a good foundation for many investors. But global does not necessarily mean broadly diversified. Today, a relatively small number of US technology companies account for a significant share of many global indices.

Storebrand Global Solutions gives us the freedom to look beyond those companies and invest in businesses with different drivers of long-term growth. That can make it a useful complement to an index fund.

I have managed the fund since 2015, based on the conviction that tomorrow’s winners may be found among the companies solving problems the world cannot afford to ignore.

---

The companies named are examples of holdings in the fund and should not be considered recommendations to buy or sell individual securities. Holdings may change.

Past performance is no guarantee of future returns. The value of investments in funds may rise as well as fall, and you may not get back the full amount invested. Key information documents, fund information, sustainability-related disclosures and information about investors’ rights are available at www.storebrandam.com