Technology: Big gains for FrontPoint


The Absolute Return Technology Index gained 1.48% in April, significantly lagging the broader technology market’s 4.27% rise as measured by the Nasdaq Composite. On the upside, FrontPoint Healthcare Horizons was a major outlier, climbing 4.67% to finish up 8.92% for the year to date. Ahmet Okumus’ Okumus Technology Value Fund also reported a solid return, gaining 3.57% for the month, up 5.85% YTD. Falling just short of the median, Steve Shapiro’s Intrepid Capital put up 1.38% in April to total 2.25% YTD. Galleon Technology Offshore Fund, Robeco Global Telecom Opportunities Fund and Polaris Prime Technology saw red ink