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May 10, 2013 - Top 5 #1 Ranked Technology Mutual Funds by - By Zacks Investment Research
More often than not the technology sector is likely to report above par earnings than other sectors as the demand for technology and innovation remains high. However, technology stocks are considered to be more volatile than other sector specific stocks in the short run. In order to minimize this short term volatility almost all tech funds adopt a growth management style with a focus on strong fundamentals and a relatively higher investment horizon. Investors having an above par appetite for risk and fairly longer investment horizon should park their savings in these funds.
Below we will share with you 5 top rated technology mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all technology funds, investors can click here to see the complete list of funds.
Goldman Sachs Technology Tollkeeper A (MUTF:GITAX) seeks capital appreciation over the long term. The fund invests a large share of its assets in equity securities of in equity securities of Tollkeeper companies. Generally, the fund purchases domestic securities. The technology mutual fund has a ten year annualized return of 11.42%.
The fund manager is Jeffrey Rabinowitz and he has managed this technology mutual fund since 2011.
Northern Technology (MUTF:NTCHX) invests capital growth over the long term. The fund invests the majority of its assets in companies whose principal operations are conducted in the technology sector. It may invest heavily in IPOs. The technology mutual fund has a ten year annualized return of 8.73%.
As of March 2013, this technology mutual fund held 64 issues, with 7.12% of its total assets invested in Google, Inc. Class A.
Dreyfus Technology Growth A (MUTF:DTGRX) seeks capital growth. The fund invests in securities of technology companies which have high earnings growth prospects. A maximum of 25% of its assets may be utilized to purchase foreign securities. The technology mutual fund has a ten year annualized return of 9.00%.
The technology fund has a minimum initial investment of $1,000 and an expense ratio of 1.45% compared to a category average of 1.60%.
T. Rowe Price Global Technology (MUTF:PRGTX) invests the majority of its assets in companies which expect to derive a large proportion of their revenues from the development and application of technology. The fund invests at least 30% of its assets in both mature and developing foreign markets. The technology mutual fund has a ten year annualized return of 13.34%.
The fund manager is David J. Eiswert and he has managed this technology mutual fund since 2008.
Black Oak Emerging Technology (MUTF:BOGSX) seeks capital appreciation over the long term. The fund invests a large share of its assets in equity securities of those firms that are expected to emerge as market leaders in the technology sector. The technology mutual fund has a ten year annualized return of 8.40%.
The technology fund has a minimum initial investment of $2,000 and an expense ratio of 1.35% compared to a category average of 1.60%.