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Top 5 Technology Mutual Funds
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ShareTechnology is clearly a long term growth prospect for investors willing to remain invested and should continue to outperform the market over time. 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 through 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.
Dreyfus Technology Growth A (DTGRX) seeks capital appreciation. The fund invests the majority of its assets in companies who are producers in the technology sector or stand to benefit from advances in this domain. Not more than 25% of its assets are utilized to purchase foreign securities. The technology mutual fund has a ten year annualized return of 4.3%.
The fund manager is Barry Mills and he has managed this technology mutual fund since 2007.
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 10.13% in the last one year period.
The technology mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.43% compared to a category average of 1.67%.
Fidelity Select Software and Computer Services (FSCSX) seeks long term capital growth. At least 80% of its assets are invested in companies whose principal operations are related to software or information-based services. The fund may purchase foreign securities and invest a heavily in a single issuer. The technology mutual fund has a five year annualized return of 8.19%.
As of September 2011, this technology mutual fund held 125 issues, with 14.86% of its total assets invested in Microsoft Corporation.
HighMark NYSE ArcaTech 100 Index A (PPTIX) invests at least 90% of its assets in securities which make up the ArcaEx Tech 100 index. Not more than 10% of the fund’s assets may be utilized to enter into index futures and options contracts. The technology mutual fund returned 9.69% in the last one year period.
The fund manager is Donald J. Nesbitt and he has managed this technology mutual fund since 2009.
Vanguard Information Technology Index (VITAX) seeks to mimic the performance of the MSCI US Investable Market Information Technology 25/50 Index. The fund invests almost all its assets in equity securities which are included in the index. The technology mutual fund has a three year annualized return of 19.64%.
The technology mutual fund has an expense ratio of 0.19% compared to a category average of 1.67%.
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.
Read the full analyst report on DTGRX
Read the full analyst report on MTCAX
Read the full analyst report on FSCSX
Read the full analyst report on PPTIX
Read the full analyst report on VITAX
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| Market Summary | May 26, 2012 22:58 pm ET |
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