HSBC is adding to the growing herd of companies providing a technology product with its global technology fund.
The fund is a Luxembourg based SICAV that aims to provide long-term growth. It is targeted at cautious, experienced investors who wish to get involved in the technology market over the long term and who have not been put off by the volatility of the market, which plummeted but then recovered earlier this year.
Global technology will invest in a wide range of companies that are involved in technology, media and telecommunications companies all over the world. These will include companies such as AOL-Time Warner, Intel and Viacom. It will not invest in any dotcom style companies.
The technology market has calmed down over the past few months although it has witnessed some minor swings, this fund should appeal to those who are still interested in this market.
According to Standard & Poor's the HSBC Global Investment Funds global opportunities equity fund is ranked 96 out of 190 funds, based on £1,000 invested on a bid to bid basis with gross income reinvested over three years, to August 21, 2000.