For Immediate Release
Chicago, IL – February 24, 2010 – Today Zacks.com features the Top 5 technology funds; Firsthand Technology Value (TVFQX), Baron iOpportunity (BIOPX), AllianceBernstein Global Thematic Growth A (ALTFX), Henderson Global Technology A (HFGAX) and Fidelity Select Communications Equipment (FSDCX).
These technology funds are given our highest rating; Zacks #1 Ranked Strong Buys. That means we expect these funds to outperform their peers in the future.
Zacks.com provides exclusive ratings on over 18,000 funds in 42 different categories. To learn more about Zacks Mutual Fund Rank, click here. http://at.zacks.com/?id=6760
Zacks #1 Ranked Technology Funds
Firsthand Technology Value (TVFQX) seeks capital appreciation by investing the majority of its assets in technology stocks which are undervalued and may grow appreciably. It invests in companies with a wide range of market capitalizations and may also consider smaller, lesser-known firms. The fund returned 32.87% over the past year.
The fund manager is Kevin M. Landis, and he has managed this technology fund since 1994.
Baron iOpportunity (BIOPX) invests in companies of all sizes operating in sectors with high growth potential. It seeks out firms which it expects to capitalize on technological innovations and advancements. It concentrates on securities that may double in value over a four-year period. It is a no-load fund.
This technology fund has a 5-year annualized return of 5.09%.
AllianceBernstein Global Thematic Growth A (ALTFX) seeks growth of capital by investing in companies in diverse sectors which would benefit from technological innovation. It purchases both domestic and foreign firms and uses a bottom-up approach to select prospective investments. The fund returned 55.64% over the past year.
The technology fund has a minimum initial investment of $2,500 and an expense ratio of 1.70% compared to a category average of 1.53%.
Henderson Global Technology A (HFGAX) invests a large share of its assets in companies which have the potential to benefit from technological advancements and innovation. It invests in companies worldwide and purchases stocks in firms with smaller market capitalizations. The fund has a five year annualized return of 6.14%.
As of December 2009, this technology fund held 53 issues, with 4.52% of its total assets invested in Apple Inc.
Fidelity Select Communications Equipment (FSDCX) seeks capital growth by investing at least 80% of its assets in companies engaged in the communications equipment business. It focuses less on companies whose business involves conventional means of communication such as telephone companies and long distance carriers. Instead, it concentrates on those that leverage new technologies to deliver services. The fund returned 68.38% in 2009.
Yun-Min Chai is the fund manager and has managed this technology fund since 2003.
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