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Technology 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.
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 ten year annualized return of 4.05%.
The technology mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.50% compared to a category average of 1.62%.
RS Technology A (RSIFX) invests a large share of its assets in equity securities of technology companies. It concentrates on purchasing securities of small and mid-cap companies. The fund invests heavily in domestic companies but may also purchase foreign securities. The technology mutual fund has a five year annualized return of 5.68%.
As of September 2011, this technology mutual fund held 54 issues, with 7.71% of its total assets invested in Apple, Inc.
MFS Technology A (MTCAX) seeks capital growth. The fund invests the majority 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 9.52% in the last one year period.
The fund manager is Matthew Sabel and he has managed this technology mutual fund since 2011.
Fidelity Select Software and Computer Services (FSCSX) invests a large share of its assets 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 three year annualized return of 26.34%.
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 1.62%.
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 returned 7.46% in the last one year period.
The fund manager is Michael Perre and he has managed this technology mutual fund since 2004.
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.