While technology stocks as a whole failed to outperform the market significantly, tech funds evidently picked their investments well. While the S&P 500 technology index lost 1.36% in December for an annual gain of just 7.70%, the Absolute Return Technology Index rose 0.30% in December to total 15.49%, earning its rank as the second-best strategy of 2006.
Galleon Management continued to impress, with Galleon Omni Technology Fund rising 1.29%* in December for an annual total of 25.83%*. In the rare air above Galleon floated J. & W. Seligman's Seligman Tech Spectrum Fund, which produced a 0.30% return in December