These technology funds managed to avoid the worst of the first quarter's carnage. Funds investing in stocks of such blue chip tech companies, as well as those investing in more speculative Internet issues, fell alike. Several tech portfolios, however, were spared by virtue of investment strategy. I think most of them never achieved the kind of absurd valuations you saw in the Nasdaq, so when they pulled back they became extremely attractive, and investors have been noticing that. Headley has been adding to the fund's semiconductor exposure on weakness in the sector.
Total returns are in U.S. dollars and include reinvested dividends.
But the picture for technology looks much brighter under a time horizon that exceeds 12 months, Graham-Hackett said. Bid on or offer business services Web design, logo design, computer consulting, and more. Business Week Online may receive a share of any fees you pay for services. The McGraw-Hill Companies Inc. All rights reserved.