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Technology funds on the rebound

The technology, media and telecommunications sector posted positive results in June for the first time since February reports the most recent Lipper Tech Fund Bulletin.

The funds posted average gains of 6.6 per cent for June, following a 21.5 per cent drop over the last three months.

Nineteen out of 24 unit trusts participating in the survey had a positive performance last month, compared to June when 22 of 23 funds fell.

Portfolio Technology Fund had the highest return, posting an increase of 18.9 per cent. Following it was the Five Arrows Independent Technology Fund returning 16.9 per cent.

The Henderson Global Technology Fund, the overall best performing fund in the sector over the last year was up 14.3 per cent, giving it a rise of 145.9 per cent.

The Aberdeen European Technology Fund was the bottom fund, dropping 2.4 per cent in June.

Lipper global marketing director Steve Lipper says: “Many of these technology funds have a global investment remit with a strong focus on the US. In June the Nasdaq 100 was up 13.23 per cent following a drop of 11.9 per cent in May prompting a reversal in fortune for technology and small cap funds.”


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