Boston, MA 08/20/2014 (wallstreetpr) – Asian hedge funds are showing a lot of interest in tech giants Micron Technology, Inc. (NASDAQ:MU) and Sprint Corporation (NYSE:S). A lot of hedge funds have put money in both of these companies over the past few months.
What Prompted the funds to invest in MU and S
There are quite a few hedge funds that had invested money in Micron Technology, Inc. (NASDAQ:MU) and S during the Q2 2014. Azentus Capital Management Ltd. guided by Morgan Sze. Had a significant share of 13F holdings in the telecommunications portion earlier which it later increased by 20% in the second quarter? This news was first reported by Bloomberg.
Another example of the hedge fund that increased its share in these companies is Myriad Asset Management Ltd., which decided to raise the 13F holdings of technology by as much as 31%. It also increased the telecommunication security share by 13% during the Q2 2014. Myriad Asset Management Ltd. is managed by Carl Huttenlocher.
Both the hedge fund companies i.e. Myriad Asset Management Ltd. and Azentus Capital Management Ltd. Have been keeping a close eye on the trade deals in the chipmakers and wireless carriers. The fact that prompted both of these companies to opt for Micron Technology, Inc. (NASDAQ:MU) and Sprint Corporation (NYSE:S) is but the deals worth $711 billion in this year. Both of these companies are involved in a lot of merger and acquisition transactions which are worth more than $711 billion. It is more than the double of previous year’s value. Some of the other factors that prompted both of these companies are high industry growth, global spike in acquisition and merger transactions, and high operating leverage businesses.
Reporters tried to get in touch with the representatives of Azentus Capital Management Ltd. and Myriad Asset Management Ltd., but the representatives of both the companies denied commenting on this issue.
