New Fund Invests in Global Drivers of Long-Term Tech Growth
- Developed in partnership with BlueBox Asset Management, a Geneva- and UK-based specialist in technology-focused equity strategies
- Focused on a high conviction portfolio of 25-35 publicly listed technology companies
- Built around long-term technology themes spanning AI, infrastructure, and deep tech
- Accessible to both institutional and individual investors
ASB Capital, a purpose-driven asset and wealth management firm with AUM of USD 5.5 billion, has announced the launch of the ASB Global Technology Fund (the “Fund”). Developed in partnership with BlueBox Asset Management, an investment manager with a strong track record in global technology equities, the Fund aims to provide investors with access to long-term capital growth through global innovation.
The ASB Global Technology Fund will invest in global listed equity securities of technology-driven companies across developed and emerging markets. With a concentrated portfolio of 25–35 companies, each typically valued at USD 1 billion or more, the Fund applies a disciplined, high-conviction approach while maintaining diversification and limiting exposure to any single issuer at 10%. The strategy spans the entire technology value chain, from infrastructure and enablers to platforms that are shaping the future economy.
Hichem Djouhri, Senior Executive Officer at ASB Capital, commented: “The ASB Global Technology Fund unlocks access to global technology equities through a strategy designed to deliver superior returns. It responds directly to growing demand among GCC investors, who are increasingly shifting capital toward sectors like artificial intelligence, digital infrastructure, and advanced manufacturing. By offering a transparent, regulated vehicle based in the DIFC, we’re enabling regional investors to actively participate in innovation-led growth worldwide.”
“Partnering with BlueBox Asset Management strengthens ASB Capital’s role as a trusted wealth nexus, seamlessly connecting regional investors to leading global technology opportunities while also bringing innovative regional prospects to the world,” added Hichem.
BlueBox Asset Management brings a proven performance history, having launched its flagship Global Technology Fund in 2018. Since inception, the strategy has delivered an annualised return of 19.8%, with a total return of 271.5% as of June 2025. The ASB Global Technology Fund’s investment thesis is built around the “Direct Connection” theme, backing companies that power the interface between digital systems and other verticals, providing exposure to the most exciting developments in the sector.
The strategy is led by William de Gale, Lead Portfolio Manager at BlueBox Asset Management, who brings 20 years of experience from BlackRock, where he managed listed technology portfolios. He commented: “Our philosophy is rooted in identifying not just technologies, but technology-driven businesses that create long-term shareholder value. As digital transformation reshapes every industry, the Direct Connection theme continues to unlock growth opportunities. This partnership with ASB Capital enables us to extend our Sharia-compliant strategy to a wider investor base through a regulated and regionally relevant structure.”
Investor appetite for technology as a thematic sector continues to grow. According to ETFGI, global technology-focused ETFs attracted an estimated USD 10.8 billion in net inflows as of April 2025, with total AUM reaching approximately USD 317.4 billion. In the Middle East, the technology vertical now ranks among the leading sectors of interest for sovereign wealth funds and family offices, reflecting a strong alignment with global innovation trends – GCC investors are increasingly aligning with global innovation trends – prioritising sectors such as artificial intelligence, digital infrastructure, and advanced manufacturing in their cross-border allocations.
