Tyson Asset Management Inc. Consolidating Two High Tech Funds
Effective October 1, 2013 Tyson Asset Management Inc. will consolidate its medium term and long term High Tech funds into one fund simply named the Tyson High Tech Fund.
Online, July 26, 2013 (Newswire.com) - The funds were originally created to take profit advantage of the 'millennium effect' at the end of the year 1999. At that time many prestigious tech stocks were a bargain on the fears and uncertainty of the effect of the new millennium on computers around the world. By shorting and or hedging these stocks, clients enjoyed triple digit profit over a six month period.
Since that time, however, there has been less interest in the purpose built funds. Existing holders of the funds need not do anything. After October 1, 2013 they will see the description of these funds will change in their statements. They remain as valuable funds that will continue to provide stable capital appreciation over the next five years.
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