More often than not the technology sector is likely to report above par earnings than other sectors as the demand for technology and innovation remains high. However, technology stocks are considered to be more volatile than other sector specific stocks in the short run. In order to minimize this short term volatility almost all tech funds adopt a growth management style with a focus on strong fundamentals and a relatively higher investment horizon. Investors having an above par appetite for risk and fairly longer investment horizon should park their savings in these funds.

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.

Goldman Sachs Technology Tollkeeper A ( GITAX - MF report ) 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 five year annualized return of 7.7%.

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%.

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.

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 February 2012, this technology mutual fund held 81 issues, with 14.17% of its total assets invested in Apple, Inc.

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 technology mutual fund has a minimum initial investment of $2,000 and an expense ratio of 1.49% compared to a category average of 1.62%.

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 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, 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.