Technology: Modest gains propel tech


While the Nasdaq fell 1.94% in February, the Absolute Return Technology Index made a modest gain of 0.38% to total 2.67% for the year so far. Pequot's relatively new TMT Offshore Fund gained 1%* in February for a year-to-date return of 6.66%. Also outperforming the index was Ahmet Okumus' Technology Value Partners Fund, which climbed 1% on gains from computer services, e-services consulting and Internet infrastructure software. Galleon Management's Technology offshore continued its winning streak, up 0.23% for the month.