The TechInvest Intercept Capital Fund produced a positive return of +1.7% in March on the back of global equity market rallies, and is now up +2.3% in 2009.
Although still underinvested, the Fund's long positions drove the March result. FTI Consulting was a main contributor to performance, as was Apple and Salesforce.com. Short positions in Hewlett-Packard, Dell and Electronic Arts partially offset these gains. The Fund ended the month weighted towards the wireless & internet, software & services and biotechnology sectors, with small net positive positions in hardware & equipment, medical devices, biotechnology and pharmaceuticals.
