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Rating:SunAmerica Joins Tech Fray Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, May 22, 2000

SunAmerica Joins Tech Fray

Reported by Jason Shank

Every mid- to large-sized fund complex seems to either have launched a tech fund, filed to launch one, or is planning to launch one in the near future. SunAmerica is no exception; the New York AIG subsidiary today announced the launch of its Focused TechNet Portfolio. The fund is intially being promoted via a virtual roadshow on its Web site, both for advisors and prospective investors.

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But although the fund falls into the "me-too" category of product offerings overall, its make-up is clearly a unique proposition. Not only is the fund advised by three separate asset managers, the three managers each contribute only ten picks apiece to the overall portfolio. They can buy stocks of any market size or capitalization, including IPOs, and can buy domestic and international stocks.

This unusual focused strategy does present more risk for investors, but also the potential for strong performance, should a few of the tech holdings show some of the "hockey-stick" growth of 1999 and early 2000.

The three managers of the the new fund are:

  • Dresdner RCM Global Investors -- Huachen Chen and Walter Price, Jr., managers of the Dresdner RCM Global Technology Fund.
  • Van Wagoner Capital Management -- Garrett Van Wagoner and Raiford Garrabratn, portfolio manager and assistant portfolio manager, respectively, of the Van Wagoner Technology Fund.
  • SunAmerica Asset Management -- Donna Calder and Soohwan Kim, managers of the SunAmerica New Century Fund and Style Select Series Aggressive Growth Portfolio.
The fund is the fourth multi-managed focused fund offered by SunAmerica Mutual Funds -- the others are are the Focus Portfolio, the Focused Growth & Income Portfolio and Focused Value Portfolio

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