UK - Schemes are being urged to increase their allocations to the telecommunications sector ahead of an imminent upturn.
Isis Asset Management claims European telecom equipment manufacturers will benefit from a substantial round of infrastructure spending by mobile phone network operators.
Telecom firms have reduced their spending dramatically since the end of the technology bubble in a bid to save cash.
But Isis believes mobile phone operators will have to start spending to maintain their positions and the quality of their services.
Isis director Davina Curling said: “After a prolonged period of falling investment the major network operators are soon going to have to increase their capital expenditure.
“They need to do this if their services are to remain robust.
“At the stock level we have reduced our position in Nokia and are focusing on Ericsson.
“Nokia’s revenues have a large exposure to handset sales whereas Ericcson provides a more geared exposure into any increase in infrastructure investment.”
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