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Investec tunes into wireless communications

Investec Asset Management&#39s Wireless World fund is a Dublin-domiciled Ucits aimed at experienced investors who want long-term growth from investment in technology.

The fund will invest in between 30 and 40 companies, including Vodafone, Nokia and Motorola, that are providing mobile access to the web via mobile phones and other devices. It will focus on Europe and the US, with a small amount in Asian companies. There may be some exposure to dotcom companies in the future.

Investing in companies dealing in a rapidly expanding market is attractive and the fund has the advantage of a minimal investment in dotcoms, some of which have gone out of business in recent months. Wireless World&#39s geographical focus is also appealing because, while the US technology market is more stable and mature, Europe has more growth potential.

According to Standard & Poor&#39s, the Investec SF global technology fund is ranked 25th out of 49 funds in its sector, based on £1,000 invested on a bid-to-bid basis with gross income reinvested over one year to September 4, 2000.

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