May 16, 2003 — Two Amerindo mutual funds that debuted just as the technology bubble was bursting are about to go poof.
The small, struggling Amerindo Internet B2B Fund/D (BTBDX) and Amerindo Health & Biotechnology Fund/D (DNADX) will be combined with Amerindo Technology Fund/D (ATCHX), subject to shareholder approval.
The funds slated to be merged out of existence were introduced three years ago. Although both have posted gains recently, they suffered losses in each of the last two years.
The Health & Biotechnology fund returned 16.5% this year through April, while the average health care fund was up 7.2%.
The Internet B2B returned 17.7% through the first four months of this year while the average technology fund was up 9.3%.