As of May 19, the CF Techinvest Technology Fund became eligible for inclusion in the three year sector of the performance tables for the Technology and Telecommunications UK classification, as published by Bloomberg. The first such table to appear since then showed the Fund in third position (out of 17) in the three year column. It was also first in the one year and in the year-to-date columns.
While we are gratified with our premier position in these last two columns, we prefer to be judged on our standing in the three year column. Subscribers with us for many years know that our prime focus has always been on the longer term picture and that we set little store by short-term fluctuations in the market.
Needless to say, our goal remains to get to top position in the three year column and also in the five year when we are going long enough for that. However, we should also point out that positions in the performance tables are not cast in stone and that no fund stays at the top all the time. The shorter the term over which performance is measured, the more variable the relative positions of the funds in any one sector tend to be.
The past is not a guide to future performance.