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Top Fund Still Sees Value in Apple, Amazon After Sizzling Rally

  • Apple and Amazon are below Pollak’s valuation targets
  • Loftus Peak Global Disruption Fund returned about 24% in 2020

Photographer: Michael Nagle/Bloomberg

Updated on

A Sydney-based global stock fund that’s outperformed most peers is sticking with bets on some high-flying technology shares as investors question their valuations.

Hefty price tags on companies like Apple Inc. and Inc. might be justified given the quality of their businesses, said Alex Pollak, chief investment officer at Loftus Peak Ltd. His Loftus Peak Global Disruption Fund has returned about 24% this year and has outperformed 99% of peers over one-year, three-year, and five-year time spans, according to data compiled by Bloomberg.