Allianz Technology Trust (ATT) investor relations material

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.