The Polar Capital Technology trust has seen it assets and share price jump more than 40 per cent in six months.
Net assets rose 41.2 per cent for the period to the end of October taking total assets under management to £1.1bn compared to £800m at the end of April.
The share price rose 40.5 per cent over the period and currently trades at a discount of 7 per cent, up slight from 6.5 per cent six months earlier.
In local currency, the Dow Jones World Technology index benchmark has risen only 15.9 per cent, but in sterling adjusted terms has enjoyed a 39.1 per cent rise.
“Technology outperformed materially in most major markets, as the sector roared back from a difficult first-quarter once US recession fears abated,” fund manager Ben Rogoff says.
Advanced Micro Devices was the biggest contributor to performance delivering 144 per cent. The fund also benefited from its holdings in Nintendo due to the success of smartphone game Pokemon Go.
The fund’s underweight position in Microsoft also acted as a drag while its “modest” cash holdings suffered from sterling devaluation, Rogoff says.