Telecoms beat tech and media stocks

The technology & telecoms sector has averaged a 79.06% loss in the three years to December 2002 but within it individual funds have produced some diverse risk and reward trade offs. Despite the range even the best-performing fund in the technology & telecoms sector, Legg Mason Telecoms, tumbled by 69.74%, bid to bid, over the 36-month period to the end of last year. The annualised mean return of this fund was -30.9%, while that of the sector average was -35.84%. In the year to December 2002 Legg Mason Telecoms lost 34.33%, in the year to December 2001 it shed 31.03% and in the first ye...