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'The risk premium was too high,' he says. The proceeds were invested in Dutch company ASML, a provider of equipment to the semiconductor industry. Smit's response was to offload the fund's holding in Tencent.

"If no such solution can be found, we remain prepared to use the safeguard provisions under Article 16, which are a legitimate recourse under the Protocol in order for the government to meet its responsibilities to the people of Northern Ireland," he said.

LONDON, Oct 26 (Reuters) - There is very little time left to bridge significant gaps between Britain and the European Union's positions on sticking points in talks about a post-Brexit trade deal, Prime Minister Boris Johnson's spokesman said on Monday.

LONDON, Nov 19 (Reuters) - Britain's Brexit minister David Frost said on Friday that significant gaps remained with the European Union across most issues relating to the Northern Irish protocol and that if no solution could be found, then Article 16 would be used.

Although Smit accepts concerns that shares in many technology companies are overpriced, he believes his approach means the fund steers clear of those businesses where share prices have got ahead of themselves.