Technology funds popular despite ongoing shakeout

Despite a shakeout in technology stocks over recent weeks, dedicated European technology funds are the latest fad among product providers, eager to capitalise on a "catch up" phase in the technology revolution. Without an overall technology index within Europe, it is difficult to gauge the exact growth in the market. The Fleming European Technology Fund, a euro-denominated fund domiciled in Luxembourg and launched in November 1999, was up by 199.4% in sterling terms, offer to offer, since launch on 8 November to 10 April. This compares to a 12.5% increase in the FTSE World Europe Index in...