Deutsche Asset Management is introducing the Deutsche new economy fund.
The fund is the companys first open-ended investment company (Oeic) and is also its first technology fund. The product is aimed at clients who want exposure in the technology market but who also require some safety and stability.
New economy will invest in a broad range of companies around the world, from those that produce computer hardware and software to those that use the Internet to sell their products, such as AOL-Time Warner and Microsoft.
The increasing number of dotcom bankruptcies has given technology stocks a rather dubious reputation. However, the range of different types of companies that the Deutsche new economy fund will invest in will give the fund a solid base and will appeal to investors who are looking for a more stable platform for investing in the technology sector.
According to Standard & Poors the Deutsche managed fund is ranked 15 out of 59 funds, based on £1,000 invested on a bid to bid basis with net income reinvested over three years.