Technology has increasingly become an indispensable 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, investors can click here to see the complete list of funds.

DWS Technology A ( KTCAX - MF report ) invests heavily in companies related to the technology sector. The fund primarily invests in domestic securities. A maximum of 35% of its assets may be utilized to purchase foreign securities. The technology mutual fund is non-diversified and has a three year annualized return of 12.72%.

The fund manager is Walter Holick and he has managed this technology mutual fund since 2009.

MFS Technology A ( MTCAX - MF report ) seeks capital growth. The fund invests a large share of its assets in domestic and foreign equity securities of technology companies. Those companies which stand to gain from technological development are selected for investment regardless of their sizes. The technology mutual fund has a three year annualized return of 12.34%.

As of October 2012, this technology mutual fund held 29 issues, with 11.36% of its total assets invested in Apple Inc.

Northern Technology ( NTCHX - MF report ) invests the majority of its assets in companies whose principal operations are conducted in the technology sector. The fund may also invest in companies that manufacture computer hardware, software and related products. It may invest heavily in IPOs. The technology mutual fund has a three year annualized return of 12.07%.

The technology mutual fund has a minimum initial investment of $ 2,500 and an expense ratio of 1.25% compared to a category average of 1.61%.

Invesco Technology Investor ( FTCHX - MF report ) seeks capital appreciation over the long term. It invests a large share of its assets in companies which are heavily technology dependent in product development or operations. The fund purchases both domestic and foreign securities. The technology mutual fund is non-diversified and has a three year annualized return of 11.71%.

The fund manager is Warren T. Tennant and he has managed this technology mutual fund since 2008.

USAA Science & Technology ( USSCX - MF report ) invests the majority of its assets in companies that benefit from scientific and technological developments. A maximum of 50% of its assets may be utilized to purchase domestic as well as foreign securities. The technology mutual fund has a three year annualized return of 13.00%.

The technology mutual fund has a minimum initial investment of $ 3,000 and an expense ratio of 1.38% compared to a category average of 1.61%.

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.