Since 1974, Walter Price (71) of Allianz GI Funds has been investing in technology stocks in San Francisco-and has successfully done so: his oldest fund-Allianz Technology Trust (1995 edition) has brought an average of 13% Annual rate of return.
For many years, Price has relied on technology companies that provide software services in the data cloud: in cloud computing technology, centrally maintained data servers replace company-controlled computer servers. A new generation of software companies are offering their cloud services on a subscription basis (“software as a service”). In December 2018, manager magazin proposed the Walter Price fund and the names of the cloud technologies it contains, such as ServiceNow, Paycom and Okta: so far, the price has more than doubled.
Price said that the cloud computing revolution in the corporate world has just begun. “Amazon Web Services estimates that only 5% of company IT systems have been moved to the cloud-95% of company systems must still be moved to the cloud.”
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