"To contrarian investors, bad news is often good news," says Investors Chronicle. So the fact that the Aegon Technology Fund closed at the end of July could be a good sign for the tech sector. Aegon's closure is the latest in a line of shut-downs. Just 14 technology unit trusts and two investment trusts remain, says The Daily Telegraph. Yet technology is proving a far more durable investment than in the grim days after the bubble popped in 2000. The recent market turmoil saw the sector hold up comparatively well. And with IT now a fundamental part of company infrastructure, as the FT puts it, the sector is less cyclical than it was.
Among the best-performing of those funds left is Artemis New Enterprises, which has returned 113% over the past five years. "To be successful with a tech fund consistently over the last five years shows real class. I have been a buyer of Lindsay Whitelaw's Artemis New Enterprises for my own pension fund for some time," says Alan Steel of Alan Steel Management in The Daily Telegraph.
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