View more on these topics

Tech funds suffer poor returns in September

Technology funds suffered their second worst month of the millennium in September, according to new research by Lipper.

Artemis New Enterprises fund was the only fund among the 26 researched which registered a positive performance for the month, returning 3.24 per cent.

The poor performance continues technology&#39s shaky year. In August, the FTSE techmark 100 jumped by 13.31 per cent but last month it fell by 12.78 per cent.

Most technology funds are still up by at least 50 per cent for the year to October but performance has been extremely varied since the tech peak in March.

Lipper global marketing director Steve Lipper says: “Technology funds suffered in September for a number of reasons. The Nasdaq has been affected, with companies such as Apple and Dell both releasing profit warnings in recent weeks.

“Fears of a US economic slowdown, the continuing high price of oil and the weak euro causing problems for US technology companies sell-ing into the euro region have also contributed.”

Michael Philips partner Michael Both says: “I don&#39t think there is anything I would advise people to put money into at the moment to make a quick return.

“It has been very difficult to make any money in any sector over the past few months and I don&#39t think that is about to change.”

Recommended

ScotLife says financial strength secured

Scottish Life claims its new deal with Royal London is a vote of confidence for the IFA sector.The life office claims the deal has put paid to much of the speculation over its future survival in the low-cost post-stakeholder pensions arena by providing the company with the financial strength to compete with bigger rivals.ScotLife announced […]

Condemnation for stakeholder

Stakeholder is a non-starter because there is no room in its charging structure for advice, Conservative pension spokeswoman Jacquie Lait told the party at its annual conference in Bournemouth last week.Lait said she was not surprised stakeholder did not receive a mention by the Government at its conference two weeks ago because the public do […]

Scottish Mutual bonds with the Nasdaq

Scottish Mutual has introduced the 10.net bond, a guaranteed equity bond.The bond is a high risk product aimed at investors who are looking for income or growth. Investors can opt for annual or monthly income, paying 10 per cent or 0.81 per cent respectively, or can go for a growth option of 131.5 per cent […]

Sweeping changes?

What lies ahead for pension rights for same-sex partners? Last week, I moved my “sex and pension schemes” discussion on to the rights of homosexuals to receive a surviving “spouse&#39s” pension on the death of their partner.The lead case in this respect is Lisa Grant v South West Trains. Lisa is an employee of SWT, […]

Where next for the price of oil?

Having stabilised at around $65 a barrel, many investors are questioning if the price of oil will rise, and when. Richard Hulf provides his view. Richard Hulf, manager of the Artemis Global Energy Fund, sets out his thoughts about how the oil price may move through the next six months. At the start of the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment