Technology: Big advance


Technology funds enjoyed a strong August, with the Absolute Return Technology Index posting a median rise of 3.16% (9.37% YTD) on the back of big gains in the market, as reflected by the Nasdaq Composite's 4.14% climb. Rajiv Chaudhri's Digital Century Aggressive Growth offshore turned in an outstanding 10.1%, followed by the Galleon Tech offshore fund with a 5.57% gain. Philippe Laffont's Coatue offshore (Class A) was up 2%* through August 25, bringing it back into the black this year, while Intrepid Capital Fund gained 2.19% to total 8.22%.