Schroder GAIA Contour Tech Equity

Schroder GAIA Contour Tech Equity is a global equity long/short fund that invests predominantly in the Technology, Media and Telecoms (TMT) sector. The fund targets mis-priced opportunities, seeking to deliver positive returns in all market conditions while limiting downside risk.

Investment highlights

  • Sector focused global tech long/short equity fund with low net exposure, typically between -25% to 25%
  • Broad and diverse universe characterised by high dispersion among companies, creating an abundance of opportunities
  • Collaborative research effort leverages strong historical understanding of the industry
  • Combines top-down analysis of evolving trends in technology with fundamental bottom-up analysis of idiosyncratic companies
  • Keen focus on alpha generation, with significant alpha contribution on both the long and short side of the portfolio - since inception1 over 80% of wealth creation has come from alpha2
  • Strong annualised returns since inception1, 14.8% annualised returns since October 20103
  • Not reliant on FANG stocks to generate performance

Past performance is not a reliable indicator of future results, prices of shares and the income from them may fall as well as rise and investors may not get the amount originally invested.

1Based on Contour Asset Management's tech equity long/short strategy.
2Source: Contour, as at 31 October 2017. Inception to date realized beta has been 83% calculated against Russell 1000 EW Technology TR Index Ticker is R1EWTTR.
3Net of fees, calculated on a NAV to NAV basis. Source: Contour as at 31 October 2017

In conversation with the manager

Why tech equity long/short?

A continually changing and volatile sector, creating long and short opportunities

Who is Contour Asset Management?

A technology sector specialist focused on creating a differentiated view of the sector

What is our competitive advantage?

A firm solely dedicated to this strategy that has lower net exposure compared to most peers


David Meyer, CFA

Principal & Portfolio Manager

Northwestern, University B.A. in Economics

  • 19 years professional experience
  • 7 years with Contour

David Meyer is Founder and Portfolio Manager of Contour Asset Management. Prior to the inception of Contour in 2010, David joined Brummer & Partners in 2004 as a technology analyst covering software and information technology (“IT”) services for Brummer & Partners’ Zenit Fund. In 2005, David became a senior member of the investment team managing the Manticore Fund, which is now solely managed by Contour. Before joining Brummer & Partners, David was an equity analyst within Morgan Stanley’s Investment Management Group from 1998 to 2004, where he was responsible for covering software, IT services, and IT hardware companies. David holds a B.A. in Economics from Northwestern University. Outside of the office, David is an avid skier and tennis player. He lives in Connecticut with his wife and their two children.

What are the risks?

  • A failure of a deposit institution or an issuer of a money market instrument could create losses.
  • Equity prices fluctuate daily, based on many factors including general, economic, industry or company news.
  • The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses.
  • The fund uses derivatives for leverage, which makes it more sensitive to certain market or interest rate movements and may cause above-average volatility and risk of loss.
  • A derivative may not perform as expected, and may create losses greater than the cost of the derivative.
  • The counterparty to a derivative or other contractual agreement or synthetic financial product could become unable to honour its commitments to the fund, potentially creating a partial or total loss for the fund.
  • In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares.
  • Failures at service providers could lead to disruptions of fund operations or losses.
  • The fund may take positions that seek to profit if the price of a security falls. A large rise in the price of the security may cause large losses.

Contact Schroders

Schroders is a world-class asset manager operating from 37 locations across Europe, the Americas, Asia, the Middle East and Africa.

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