AIB Govetts new European technology fund is an open ended investment company (Oeic) aimed at experienced investors who are looking for long term growth and are willing to accept a high risk investment.
European technology will invest in technology companies all over Europe, but not in the UK, that develop and utilise new technologies. The Oeic will invest in up to 50 companies, which will include companies such as Siemens, Nokia, Alcatel, Ericsson, and Philips.
The technology market had a rough ride at the beginning of 2000, with the Nasdaq 100 index seeing a great deal of volatility. However although still high risk, the market has stabilised in recent months. The European technology market also lags behind the US market, which means that it still has a great deal of growth potential.
According to Standard & Poors the Govett European strategy fund is ranked 5 out of 88 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to September 18, 2000.