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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, investors can click here to see the complete list of funds.
Invesco Technology Investor (FTCHX - MF report) invests primarily in companies which leverage technology in product development or operations. More than half of the fund’s assets may be utilized to purchase foreign securities. The technology mutual fund has a five year annualized return of 5.13%.
The technology mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.46% compared to a category average of 1.62%.
MFS Technology A (MTCAX - MF report) 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 has a five year annualized return of 6.88%.
As of January 2012, this technology mutual fund held 84 issues, with 13.79% of its total assets invested in Apple, Inc.
T. Rowe Price Global Technology (PRGTX - MF report) invests the majority of its assets in companies which expect to derive a large proportion of their revenues from the development and application of technology. The fund invests at least 30% of its assets in both mature and developing foreign markets. The technology mutual fund has a five year annualized return of 10.29%.
The fund manager is David J. Eiswert and he has managed this technology mutual fund since 2008.
Vanguard Information Technology Index (VITAX - MF report) seeks to mimic the performance of the MSCI US Investable Market Information Technology 25/50 Index by utilizing an indexing -investment approach. The fund invests almost all its assets in equity securities which are included in the index. The technology mutual fund has a five year annualized return of 6.96%.
The technology mutual fund has an expense ratio of 0.19% compared to a category average of 1.62%.
Columbia Seligman Global Technology A (SHGTX - MF report) invests the majority of its assets in domestic and foreign equity securities of technology companies and those with operations in related areas. The fund invests in firms without regard to their market capitalization. The technology mutual fund has a five year annualized return of 6.98%.
The fund manager is Richard Parower and he has managed this technology mutual fund since 2000.
To view the Zacks Rank and past performance of all technology mutual funds, investors can click here to see the complete list of funds.
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.