The TechInvest Intercept Capital Fund was down -0.59% in January, bringing its 12 month return to +10.8%.
The Fund continued to increase investments and short sales throughout January, and was 46% invested in 34 companies identified as undervalued by month end. Short sales (in 20 companies) made up 39% of the Fund, along with an index position. The portfolio ended January weighted towards the Wireless & Internet, Software & Services and Hardware & Equipment sectors. Positive contributors to the monthly return were Google and Apple Inc, while major detractors were Salesforce.com, eBay and Nokia.
