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Last month the worst of the year for UK tech funds

Last month was the worst of the year for UK technology funds according to the latest Lipper Tech Fund Bulletin.

On average funds were down 12.83 per cent for the month bigger than the April decline of 11.29 per cent.

No funds produced positive returns for the month, both the NASDAQ 100 and the FTSE Techmark 100 were down, 9.46 and 9.21 per cent respectively..

The top performing fund was Legg Mason Investors Telecoms fund which dropped 0.72 per cent.

Only three technology funds have produced positive returns for the year-Henderson&#39s Global Technology up 9.4 per cent, M&G Global Technology up 1.64 per cent and Scottish Equitable Technology up 1.61 per cent.

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