Grab These 3 Tech Mutual Funds For Brilliant Returns
Risk enthusiasts who are looking for healthy returns over a fairly long investment horizon can opt for technology mutual funds. The tech sector is believed to be poised to perform better than the rest due to innovation and increased demand. Improving industry fundamentals and emerging technologies, such as wearable devices, virtual reality headsets, drones, virtual reality devices and artificial intelligence, are the main catalysts for the industry.
Meanwhile, most mutual funds investing in stocks in these sectors prefer a growth-oriented approach that includes focusing on companies with strong fundamentals and relatively higher investment prospects. In addition, the technology now has a broader coverage than just hardware and software companies. Social media and internet businesses are also part of today’s tech landscape.
Below, we share with you three top-ranked technology mutual funds. Each has achieved the # 1 ranking of the Zacks mutual fund (strong buy) and is expected to outperform their peers in the future. Investors can click here to view the full list of funds.
T. Rowe Price Global Technology Fund PRGTX aims for long-term capital growth. This non-diversified fund invests most of the assets in the common stocks of companies that its managers believe will generate the majority of their income through the development, advancement and use of technology. It typically invests in at least five countries and invests about a quarter of its assets in non-U.S. Companies. PRGTX has three-year annualized returns of 33.9%.
PRGTX has an expense ratio of 0.86% compared to the category average of 1.05%.
Fidelity Select Software and IT Services Portfolio The FSCSX aims for capital appreciation. The non-diversified fund invests the majority of its assets in common stocks of companies engaged in the research, design, production or distribution of products or processes related to software or information-based services. The FSCSX shows three-year annualized returns of 27.3%.
Ali Khan has been one of the FSCSX fund managers since 2014.
BlackRock Technology Opportunities Fund Investor Actions A BGSAX aims for long-term capital appreciation. The fund invests the majority of its assets in equity securities issued by domestic and foreign technology companies in all market capitalization ranges. These companies are selected primarily for their potential for rapid and sustainable growth resulting from the development, advancement and use of technology. BGSAX has three-year annualized returns of 34.6%.
At the end of August 2021, BGSAX held 137 issues with 4.14% of its assets invested in Apple Inc.
To view the Zacks Rankings and past performance of all technology mutual funds, investors can click here to view the full list of funds.
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