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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Anonymous who wrote (9544)	9/16/1999 6:07:00 AM
From: puborectalis	Respond to of 21876

Fund Manager Sees Tech, Telecoms Sectors Growing FRANKFURT (Reuters) - Fund manager Fidelity Investments said it expects strong growth in the technology and telecommunications sectors to continue and even accelerate during the next three to five years. Unveiling two new global funds -- a technology fund and a telecoms fund -- in Germany this week, Fidelity Investment Director John Ross said: ''Technology and telecommunications are two strong themes. We don't think these are temporary trends. We think they're going to last a number of years.'' The two new funds are the first sectoral funds Fidelity has launched outside the United States where it manages about $21 billion in sectoral funds. Fidelity manages about $900 billion worldwide. Ross said investors were becoming more and more globalizes as national barriers become increasingly eroded, and that an increased sophistication and investor expertise drew them to sector funds. Fidelity research analyst Virgil Adams told the launch presentation telecom investments have outperformed world markets substantially in the last year. ''We expect this trend to continue and to accelerate over the next three to five years,'' Adams said, adding that increased mobile telephone use and data traffic would fuel this. Fidelity expects about 1.4 billion mobile phone users by 2003 compared to about 500 million at the moment. Research analyst Robert Rowland said semiconductors would drive growth in the technology sector. He said the semiconductor market was growing at an annual rate of 15-16 percent. ''The building block for technology is semiconductors,'' Rowland said. He said companies like Fujitsu and Sony were going to be leaders in the sector. ''We have a bias toward those kind of companies that promise growth and you can't have growth without a unique kind of technology,'' Rowland said.