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Technology has increasingly become an indispensible part of our daily lives and the future prospects of this sector only seem brighter. However, the boom of tech funds in the late nineties and their subsequent downfall during the decline that followed has invoked a certain degree of skepticism even among those bullish on this category. But for investors seeking aggressive growth over the long term, investing in funds that focus on technology and innovation could be a prudent option in times to come.
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.
Fidelity Select Technology (FSPTX - MF report) 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. This technology mutual fund returned 39.72% in the last one year period.
The technology mutual fund has a minimum initial investment of $2,500 and an expense ratio of 0.83% compared to a category average of 1.67%.
Wasatch Global Science & Technology (WAGTX - MF report) invests the majority of its assets in domestic and foreign companies in the science and technology domain. It invests in at least three developed countries including the U.S. The fund may also purchase a substantial amount of emerging market securities. This technology mutual fund has a ten year annualized return of 6.07%.
As of June 2011, this technology mutual fund held 82 issues, with 4.09% of its total assets invested in Google, Inc.
Buffalo Science & Technology (BUFTX - MF report) seeks capital growth. The fund primarily invests in common stocks of domestic companies whose securities may gain from advances in science and technology. Not more than 20% of its assets may be invested in ADRs or foreign securities. This technology mutual fund returned 38.33% in the last one year period.
The fund manager is Clay Brethour and he has managed this technology mutual fund since 2001.
DWS Technology A (KTCAX - MF report) invests the majority of its assets in common stocks of companies in the technology domain. The fund invests in companies regardless of their size or market capitalization. Not more than 35% of its assets are utilized to purchase foreign securities. The technology mutual fund has a three year annualized return of 7.42%.
The technology mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.13% compared to a category average of 1.67%.
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. This technology mutual fund returned 31.18% in the last one year period.
The fund manager is Steven M. Barry and he has managed this technology mutual fund since 1999.
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.