Top Tech Fund Plans to Buy SK Hynix in Bet on Memory Chip Crunch

A top-performing technology fund plans to own SK Hynix Inc.’s shares, betting that tighter supply will further benefit the South Korean AI memory chipmaker after a 1,000% rally in the past year.

Richard Clode, a co-manager of Janus Henderson Investors’ Global Technology Leaders Fund, said SK Hynix’s dominance in the global high-bandwidth memory chip market means it may enjoy “a bit more outsized earnings growth” next year, when multi-year supply contracts will likely be repriced at elevated levels.

The $8.3 billion fund, which has beaten 96% of its peers this year, has delivered a return of 36% ...