We have identified that there are many opportunities outside our current holdings but because spending in this sector depends on the global economy we feel this is not the right time to invest in further companies. Once we feel growth is imminent, we will look at companies like GOOG, which SMIF had previously owned but was sold off during the summer due to concerns about volatility.
SMIF is currently neutral with the S&P 500 but looks to change this position in the near future.
Access the full report here: Fall 2011 Information Technology Sector Report