GCQ Funds sees AI scare as buying opportunity

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GCQ Funds sees AI scare as buying opportunity

hedgeweek

3 months ago

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Sydney-based hedge fund GCQ Funds Management has taken advantage of the recent tech selloff, purchasing around AUD200m ($143m) of beaten-down software stocks, betting the sector has hit its bottom, according to a report by Bloomberg.
Chief Investment Officer Doug Tynan said the fund sold some top-performing positions, including European luxury names, to redeploy into software companies, with recent buys including Microsoft Corp, Intuit Inc, and SAP SE.
The move comes after a wave of panic in the...

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