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3 Must-Buy Technology Mutual Funds to Make Your Portfolio Shine

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Technology mutual funds are ideal for investors seeking long-term growth and impressive returns. Improving industry fundamentals and emerging technologies such as AI, ML, robotics and data science are the key catalysts to the sector’s growth.

In addition, most funds investing in securities from the technology sector take a growth-oriented approach that focuses on companies with strong fundamentals and a relatively better investment prospect. Moreover, technology has come to have a broader meaning than just hardware and software. Social media and Internet companies are now part of the technology landscape.

Below we share with you three top-ranked technology mutual funds, viz., Janus Henderson Global Technology and Innovation Fund Class D (JNGTX - Free Report) , Fidelity Select Technology Portfolio (FSPTX - Free Report) and Fidelity Select Semiconductors Portfolio (FSELX - Free Report) . Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform peers in the future. Investors can click here to see the complete list of funds.

Janus Henderson Global Technology and Innovation Fund Class D aims for long-term growth of capital. The fund invests the majority of its assets in securities of companies that the fund managers believe will benefit significantly from advances in technology.

Janus Henderson Global Technology and Innovation Fund Class D has three-year annualized returns of 34%. As of the end of September 2021, JNGTX held 75 issues, with 9.59% of its assets invested in Microsoft Corp.

Fidelity Select Technology Portfolio fund aims for capital appreciation. FSPTX invests primarily in equity securities, especially common stocks of companies engaged in offering, using or developing products, processes or services that will provide or benefit significantly from technological advances and improvements.

Fidelity Select Technology Portfolio has three-year annualized returns of 39.7%. Brian Lempel is the fund manager of FSPTX since 2020.

Fidelity Select Semiconductors Portfoliofund aims for capital appreciation. As a non-diversified fund, FSELX invests the majority of its assets in securities of companies principally engaged in the design, manufacturing or sale of semiconductors and semiconductor equipment.

Fidelity Select Semiconductors Portfolio has three-year annualized returns of 50.5%. FSELX has an expense ratio of 0.69% compared to the category average of 1.05%.

To view the Zacks Rank and past performance of all technology mutual funds, investors can click here to see the complete list of funds.

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