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Top 5 Technology Mutual Funds
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ShareIf any single business segment clearly represents the future, it is technology. Many have viewed the sector with skepticism since the tech bubble burst more than a decade ago, but times have clearly changed for the better. Valuations are now based on stronger fundamentals and careful selection of investments has yielded good long term returns for many funds. Technology mutual funds greatly reduce the volatility inherent in this sector by carefully selecting securities to create widely diversified portfolios.
Below we will share with you 5 top rated technology mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all technology funds, then click here.
Wells Fargo Advantage Specialized Technology A (WFSTX) invests the majority of its assets in equity securities of companies in the technology domain. The fund may utilize up to half of its assets to purchase foreign securities. Not more than 25% of its assets may be invested in one country. The technology mutual fund returned 25.04% in the last one year period.
The technology mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.75% compared to a category average of 1.75%.
Goldman Sachs Technology Tollkeeper A (GITAX) seeks long term capital appreciation. At least 80% of its assets are invested in equity securities of Tollkeeper companies .These are companies that are positioned to benefit from the proliferation of technology. The technology mutual fund has a three year annualized return of 2.5%.
The fund manager is Steven M. Barry and he has managed this technology mutual fund since 1999.
Matthews Asia Science & Technology (MATFX) invests a large portion of its assets in stocks of Asian companies. At least 50% of the total revenue of these companies must be generated from sales of products and services to the technology sector. This technology mutual fund has a ten year annualized return of 4.07%.
As of June 2010, this technology mutual fund held 57 issues, with 6.19% of its total assets invested in Baidu Inc ADR.
Fidelity Select Technology (FSPTX) seeks long term capital growth. The fund invests primarily in companies that develop or offer products, processes, or services that benefit significantly from technological advances. The technology mutual fund has a five year annualized return of 6.53%.
The technology mutual fund has a minimum initial investment of $2,500 and an expense ratio of 0.89% compared to a category average of 1.75%.
MFS Technology A (MTCAX) invests a large share of its assets in companies whose businesses gain from advancements in the technology domain. Domestic and foreign stocks, including emerging market securities constitute its major investments. The technology mutual fund returned 10.57% in the last one year period.
The fund manager is Telis D. Bertsekas and he has managed this technology mutual fund since 2005.
To view the Zacks Rank and past performance of all technology mutual funds, then click here.
About Zacks Mutual Fund Rank
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds/mutualfund/
Read the full analyst report on WFSTX
Read the full analyst report on GITAX
Read the full analyst report on MATFX
Read the full analyst report on FSPTX
Read the full analyst report on MTCAX
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| Market Summary | May 26, 2012 08:46 am ET |
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