3 Technology Mutual Funds You Must Have

By Zacks Investment ResearchStock MarketsApr 09, 2020 06:28AM ET

www.investing.com/analysis/3-technology-mutual-funds-you-must-have-200521142

3 Technology Mutual Funds You Must Have

By Zacks Investment Research | Apr 09, 2020 06:28AM ET

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Technology mutual funds are ideal for investors seeking long-term growth and impressive returns. Improving industry fundamentals and emerging technologies such as AI, ML, robotics and data science are key catalysts to the sector’s growth.

In addition, the majority of funds investing in securities from the technology sector take a growth-oriented approach that includes focusing on companies with strong fundamentals and a relatively better investment prospect. Moreover, technology has come to have a broader meaning than just hardware and software. Social media and Internet companies are now part of the technology landscape.

Below we share with you three top-ranked technology mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy) and is expected to outperform peers in the future. Investors can click here to see the complete list of funds.

Fidelity Select Software & IT Services Portfolio FSCSX fund invests majority of its assets in companies whose primary operations are related to software or information-based services. It primarily focuses on acquiring common stocks of both domestic and foreign companies. FSCSX has three-year annualized returns of 22.5%.

As of the end of February 2020, FSCSX held 67 issues with 24.96% of its assets invested in Microsoft Corp (NASDAQ:MSFT).

BlackRock (NYSE:BLK) Technology Opportunities Investor A BGSAX fund aims for long-term capital appreciation. The fund invests majority of its assets in equity securities of U.S. and foreign companies across all market capitalizations that have fast and sustainable growth potential from the development, advancement and implementation of science and technology. BGSAX has three-year annualized returns of 26.7%.

BGSAX has an expense ratio of 1.18% compared to the category average of 1.29%.

Fidelity Select Wireless FWRLX fund aims for capital appreciation. It invests majority of its assets in securities of companies that are engaged in activities relating to wireless communications services or products. FWRLX has three-year annualized returns of 13.1%.

Matthew Drukker is the fund manager of FWRLX since 2016.

To view the Zacks Rank and past performance of all technology mutual funds, investors can click here to see the complete list of funds.

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3 Technology Mutual Funds You Must Have

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