Allianz Technology Trust delivered returns that handily beat its benchmark despite a challenging year characterised by geopolitical challenges and sharp swings in equity markets.

The company reported net asset value per share increased by 9.0% in the 13 months to 31 December, beating its benchmark index, the Dow Jones World Technology Index, which saw returns increased by 0.1% over the same period.

'NAV has experienced a significant and positive 'bounce', rising by 14.2% over the initial two months of 2019. Markets have been more buoyant but positive stock section has been the key contributor to the company's relative performance,' the company said.

'The slowdown in global economies (with China particularly under the spotlight) remains a concern and markets continue to be influenced by the latest news flow on the S-China trade conflict, with the prospect of some sort of resolution looking more likely at the time of writing.'

'Weakening global growth will remain a factor, making 2019 a difficult year for investors to navigate. The Company's Managers expect crosscurrents and some weakness in the first half of the year followed by a stronger second half. '

At 9:29am: (LON:ATT) Allianz Technology Trust Plc Ord 25p share price was +7.5p at 1487.5p