Allianz Technology Trust said it boosted its net asset value per share by 18.5% in its fiscal first half through May, beating its benchmark.

The Dow Jones World Technology Index rose by 10.7% over the same time period, while the FTSE All-Share Index increased by 6.7%.

'Although corporate earnings pushed stocks higher over the period, volatility - in the shape of sharper swings in equity markets - has risen,' the companys said.

'The investment manager's review highlights ongoing concern about rising inflation, higher US bond yields, and trade tensions.'

'A year ago, the board noted that the possibility of a significant market correction was high. Although this has not happened, it is realistic to assume that the path ahead may be challenging.'

At 2:25pm: (LON:ATT) Allianz Technology Trust Plc Ord 25p share price was -12.5p at 1535p