AI Stocks Become Unlikely Dividend Play for Jupiter’s Fund
- Jupiter strategy has boosted tech sector to largest allocation
- TSMC, Samsung, MediaTek among peer-beating strategy’s holdings
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For Asia investors concerned about artificial intelligence stocks looking overheated, one top fund manager suggests a surprising reason to keep buying them: dividends.
“Tech companies we own in Asia all have a net cash balance sheet, they all pay a dividend today, and we expect them all to increase their dividends as their earnings grow in the next few years,” Sam Konrad, co-manager of the Jupiter Asian Income strategy, said in an interview. In contrast, US peers “don’t have the same focus on paying dividends,” he said.