Technology Mutual Funds Continue to Find Support Despite Stock Downturn. (27-MAR-01) Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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Technology Mutual Funds Continue to Find Support Despite Stock Downturn.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

Publication Date: 27-MAR-01

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Byline: David Andelman

Mar. 27--Investors are continuing to pour cash into tech mutual funds despite the tech-stock meltdown and with no immediate prospects for a dramatic or sustained recovery.

While the average tech fund has plunged 62 percent the past 12 months, according to fund researcher Morningstar, the funds' total assets have dropped barely 50 percent -- from $170 billion to $85.9 billion.

"Flows were pretty much flat for this year," said Russel Kinnel,...

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