It's official. In the year of the Internet, the top-performing fund was, aptly enough,

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The Internet Fund, which we profiled

Monday. And the other top-performers of 1998 were, almost without exception, funds that invested in technology.

Here's the official list of the top 15 stock funds for 1998, according to

Lipper

.

The OTC funds in the chart, like the No. 2

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Profunds Ultra OTC, can best be described as

Nasdaq 100

index funds on steroids. OTC funds use derivatives to try to outpace the Nasdaq 100 daily. With three such funds in the top 15, the strategy worked well in 1998.

The odd fund out in the group is the $103.8 million

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Matthews International Korea fund, which has enjoyed South Korea's recent economic bounce and currency stabilization. But the 1998 return masks two prior years of futility. Even with 1998's stellar performance, the fund's three-year annualized return is negative 20.4%.

It's also worth noting that some of the funds on this list -- like the $200,000

Berkshire Capital Growth & Value

fund, the $3.5 million

Millenium Growth

fund and the $1.5 million

Grand Prix

fund -- are quite small. With fewer assets, smaller funds can often be more nimble in their investing than the giants, which might have to invest tens of millions of dollars in a single security to affect their returns.

After all, it's not as difficult to split half a million dollars up into good, manageable investments as it is half a billion.

So to level the playing field, below is a list of top funds for 1998 with assets of at least $100 million.

While tech figures heavily in this list, you also can see several large-cap funds that cashed in on the healthy performance of large-cap stocks, such as

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Excelsior Large Cap Growth. While the

S&P 500

returned 28.7%, many market watchers point out that the bottom half of the S&P performed much worse. Through Dec. 15, the bottom half of the index actually posted a negative return.

There also are funds on the list that managed to score big by going small, like

Transamerica's

$134.4 million

(TPSCX)

Premier Small Company fund. Managed by Philip Treick, the fund invests primarily in companies with market caps of less than $1 billion. While Treick has scored with some smaller companies like

Midas

(MDS)

and

Envoy

(ENVY)

, he also enjoys some Internet momentum by holding

Amazon.com

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, at least as of Nov. 30.

And Transamerica, whose managers went out on a full publicity blitz this fall touting the company's growing family of mutual funds, has actually backed up all that talk by placing two funds in the top 15. Treick's $129.1 million

(TPAGX)

Premier Aggressive Growth also surged on technology names, including

Microsoft

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.

Concentrated funds did well, too, as evidenced by the $12.8 billion

(JAVLX)

Janus Twenty (which actually held 27 stocks as of the end of September) and the $430.7 million

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PBHG Large Cap 20, backing up the theory that the way to beat the market is to concentrate on a few highflying stocks.