Funds loaded with technology stocks have provided their investors with significant advantages in their performance since the beginning of the year. While the BIST 100 Index of the Borsa Istanbul continued to break records, strong gains were recorded in the first two months of the year in technology funds as the technology index, along with the BIST 100 Index, tested historical highs. Although there is still uncertainty about when central banks worldwide will start lowering interest rates, historical highs are being tested in the stock markets. The development of technology stocks in indices, especially on the New York Stock Exchange, caused a stir, while the announcement of better-than-expected profits by the Californian chipmaker Nvidia in the last quarter increased risk appetite in stock markets worldwide. Analysts said that technology companies operating in the semiconductor and artificial intelligence sectors are likely to have an impact on the markets in the coming periods, especially Nvidia.
With these developments, the BIST 100 Index of the Borsa Istanbul, which reached a historical high of 9,450.48 points, outperformed the valuable indices of the world since the end of the year with a return of around 22 percent. The technology index, which has gained almost 70 percent in value since the beginning of the year, reached its historical high at 17,031.65 points. Analysts stated that interest in TL assets is increasing in global markets and this is affecting the performance of assets. Analysts emphasized that positive reports from foreign investment institutes regarding Turkish assets continue to exist, and stated that the steps taken by the economic administration in the normalization process that began after last year’s elections increased risk appetite for Turkish lira assets. The recent increased interest in Turkey’s foreign loan auctions has strengthened confidence in the implemented economic program through lower loan interest rates and extended maturities, contributing to the emergence of investor interest. HSBC also stated that the „carry-trade“ dynamics support the Turkish lira (TL) as monetary policy has significantly approached the classical side. Looking at the performance of funds dominated by technology stocks compared to the beginning of the year, the Ak Portföy Technology Companies Share (TL) Fund (Equity-Heavy Fund) recorded the highest increase at 84.2 percent. The Portföy BIST Technology Weight Restricted Index Stock (TL) Fund (Stock Weighted Fund) brought its investors 80.7 percent. These were followed by the Yapı Kredi Portföy BIST Technology Weight Restricted Index Equity Fund (Equity-Heavy Fund) with 72.3 percent and the Deniz Portföy Technology Companies Equity Fund (Equity-Heavy Fund) with 50.9 percent. (AA)