Technology trackers


I have recently been trawling the web looking for a company that has a fund that invests in the London Stock Exchange's newly-launched Techmark FTSE 100 Index. I can find several global technology funds, but none that deals specifically in UK-listed technology stock. I want to invest £3,000 to start with then £100 a month. Any suggestions? SS, London.

Linda Whitney says: The only fund that tracks the Techmark FTSE 100 Index is the Close FTSE Techmark Fund, a unit trust that was launched to coincide with the launch of the index on November 4.

The index includes stocks in a new sector of the London Stock Exchange that will cover up-and-coming quoted companies and new entrants characterised by technological innovation, regardless of the type of technology involved.. The Close Fund Management trust has an initial charge of 4.75% (discounted to 3.5% until Nov 30) and annual charges are 1.15%. Minimum investment is £1,000 or £100 a month. It includes companies involved in telecoms, the Internet, biotechnology, hardware and software but as it only invests in UK-listed companies it is suitable for PEP transfers and ISAs. More details from Close Fund Management on 0800 269 824.