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.

VanWagoner and Garrabrant co-manage the no-load

(VWTKX)

Van Wagoner Technology fund. The pair's approach is about as high risk as you can get. They favor small companies, and they frequently dabble in private companies. Last year, the fund rocketed to a 224% return, but that risky approach has weighed it down this year. Over the past three months, the fund is down 34.3%.

Dresdner's Chen and Price run the no-load

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Dresdner RCM Global Technology fund. The pair posted a 183% return last year, and their less aggressive approach has helped them hold on to more of those gains than their average peer, according to

Morningstar

. Since Jan. 1, the fund is down just 1.9%.

SunAmerica's Calder and Kim have for two years run the broker-sold

(SEGAX)

New Century Growth, a mid-cap growth fund with most of its assets invested in technology. The fund's 38% return over the past year is about average for its category. Since Jan. 1, the fund is down 12.6%.

The new fund isn't the cheapest on the shelf. Focus TechNet's class A shares come with a maximum 5.75% front-end sales charge, and its class B shares have a maximum 4% back-end load. Class II shares levy a maximum 1% front-end load and a 1% back-end load on shares sold within 18 months of purchase. The fund's annual expense ratio for class A shares is 1.97%, and for class B and class II shares they are expected to be 2.62%.

The average tech fund's annual expenses are 1.75%, according to Morningstar.

Time Again for the Fido Shuffle

Margaret Eagle will drop the reins of $4.9 billion

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Fidelity Advisor High Yield and retire on June 28, the Boston fund titan announced Tuesday. She's the latest of

two dozen managers to retire, leave the company or change funds in the last six months, although most of the others were equity managers.

Eagle is a 20-year Fido veteran and had run the fund since 1987. A company statement said she'd left the firm to spend more time with her family and pursue other interests, including work with nonprofit organizations.

While her long-term track record is excellent, the fund has stumbled over the past year. The fund's 13.1% annualized return over the past 10 years beats 98% of its peers, according to Morningstar. Over the past year, however, the fund is down 5.5%, which trails 78% of its peers.

Thomas Soviero will succeed Eagle on Advisor High Yield. He'll leave the $3 billion

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High Income fund, which he's run since 1996. Over the past three years, the fund's 5.5% annualized return beats 90% of its peers, but since Jan. 1, the fund struggled more than Eagle's, losing 6%, according to Morningstar.

Frederick Hoff, Jr. will replace Soviero on High Income. Hoff joined Fidelity in 1991. He has run the high-yield bond portions of several asset allocation funds and managed high-yield funds for Japanese and Canadian investors.

See Monday's

Fund Openings, Closings, Manager Moves.