Fund Openings, Closings, Manager Moves: SunAmerica Tech Fund Takes All-Star Approach

Yes, here comes yet another tech fund, but at least SunAmerica Focused TechNet has a somewhat intriguing twist: a cadre of stock pickers that includes a couple of stars.

A gush of tech funds has poured forth this year following last year's average 135% return for funds in the sector. The SunAmerica entry is slightly different from other rookies because it takes a multimanager approach. It will be run by managers from three firms: Van Wagoner Capital Management's Garrett Van Wagoner and Raiford Garrabrant; Dresdner's Huachen Chen and Walter Price and SunAmerica's Donna Calder and Soohwan Kim.

Each duo will contribute 10 picks from the tech, biotech and telecom sectors to the broker-sold fund's portfolio. The fund could be intriguing because the Van Wagoner and Dresdner managers have built solid track records. ...