disasters leave funds poorer, wiser

The technology funds' shocking performance since 2000 has lost investors in the entities almost half their money.

The worst performer in Australia was the ANZ Global Technology Fund, with a poor 68.5% loss. Next on the list was AMP Global Technology, which lost 62% of investors´ money in the 12 months to 26 October 2001.

Of the 519 funds in Australia running for more than a year, 186 lost investors´ money, and of the 334 funds that have been running for more than five years, only six managed an average return of more than 20%.