Tech shake-out lets quality companies come to the fore

Higher returns by smaller companies funds look harder to achieve as the new economy drivers of that growth start to fall back. Last week's wobble by the Nasdaq had a knock on effect on the tech, media and telecom stocks in the UK with many small caps falling by up to 30% from their recent highs. Alistair Currie of Edinburgh Fund Managers and Frank Manduca of Gartmore are both UK small cap managers who will run the forthcoming technology unit trusts for their respective groups. Both agree the fall in new economy stocks was inevitable and argue the sector should begin to outperform again. ...