RSA's Martin issues tech stock warning

Steve Martin, fund manager of RSA Investments Euro Tech fund, is warning investors to stay away from his portfolio and the sector in general. He said investors gambling on the fact technology stocks will be the best performer on the way up after being the worst performer on the way down are likely to be disappointed. Martin believes an influx of cash has pushed those companies with the strongest fundamentals onto significant premiums. He cited structural problems in the telecoms sector as another reason the sector is unlikely to benefit from a sustained recovery.