Steve Martin, manager of Royal & SunAlliance's EuroTech Fund, has taken the unusual step of warning investors to stay away from both his fund and his sector in the near future.
Martin said: "Technology stocks have bounced back very strongly since the market bottomed out in the aftermath of the September 11th attacks, but too many investors have jumped in, gambling that what was the worst performer on the way down will be one of the best performers on the way up. I'm afraid they are going to be very disappointed."
