March 21, 2003 — Strong Funds portfolio manager Rimas Milaitis has taken the helm of the Strong Technology 100 Fund (STEKX).
Milaitis replaces James Burkart and Deborah Koch, who had overseen the fund for a year, and who continue to run Strong’s Advisor Technology Fund.
Strong shifted responsibility for the $94 million Technology 100 fund because Milaitis’s “risk sensitive” style of money management “fits well” with the portfolio, a spokesman for the fund company said.
Milaitis also manages Strong Growth & Income Fund/Inv (SGRIX), and the stock portion of Strong Balanced Fund (STAAX), which invests in equities and bonds.
Like other technology and Internet funds, Strong Technology 100 has taken a beating in recent years. For the three-year period ended in February, the portfolio lost 38% on average, versus a loss of 39.7% for its tech fund peers.