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Technology funds sales plunge says AUTIF

Sales of technology stocks have plunged due to the recent market volatility according to AUTIF.

In May, tech funds attracted £165m in new investment, the lowest since October last year when only £62m of new funds were sold.

Sales of tech investments reached a peak in March, when £816m worth of funds were sold. This was largely due to the last minute scramble before the end of the tax season, which coincided with a high level of confidence in technology, media and technology stocks at the time.

The figure for April was £309m.

AUTIF spokeswoman Anne McMeehan says: “I suspect some people will have felt burnt by the dramatic drop in the market, and this will be tempering their desire to get back into technology stocks.”


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