Close Finsbury Asset Management is getting plugged into the European technology market with the Eurotech trust.
Eurotech is an investment trust aimed at experienced investors and pooled fund managers who are looking for exposure to the European technology market.
The product is aiming for growth by investing in European companies that are involved in technology-related areas. These include biotechnology, software, electronics and communications and internet infrastructure, such as servers.
Close Finsbury will run Eurotech, and specialist technology investment managers Reabourne will provide the background investment advice.
The company feels that there is a great deal of long term growth in the European technology market, especially in the area of mobile telecommunications. Despite recent instability in the technology market, this has mostly been in the USA and not in Europe, which in terms of growth has yet to peak.
According to Standard & Poor's the Finsbury technology fund is ranked 1 out of 19 funds, based on £1,000 invested on a mid-to-mid basis with net income reinvested over three years to July 31, 2000.