A Franklin Templeton fund is outperforming 96% of peers with big bets on artificial intelligence.
Nvidia, ASML Holding, and Microsoft are among the fund’s top holdings, according to Bloomberg.
But the fund is avoiding other tech giants like Apple, Alphabet, Meta and Netflix.
A fund manager found that betting big on artificial intelligence stocks while avoiding other Big Tech names has been the key to beating the market.
According to Bloomberg, Franklin Templeton’s $158 million FTGF Martin Currie Global Long-Term Unconstrained Fund has outperformed 96% of peers this year.
Its 15% gain also tops the 8% gain in the MSCI All-Country World Index, a benchmark used for tracking equity funds.
The fund’s biggest equity holdings include Nvidia, a top maker of AI chips; Microsoft, an investor in ChatGPT parent OpenAI; and ASML Holding, a Dutch semiconductor manufacturer.
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This article was written by and originally published on finance.yahoo.com