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Amerindo Investment Plans New Technology Funds

NEW YORK - Amerindo Investment Advisors of New York plans to launch two new technology-related mutual funds, as well as a clone of its flagship Amerindo Technology Fund.

Amerindo is planning to launch the Amerindo Internet B2B Fund, the Amerindo Health & Biotechnology Fund and the Amerindo Technology Fund II, now that the fund of the same name is nearing $1.5 billion in assets under management, according to registration statements the firm filed with the SEC. Alberto Vilar, president and founder of Amerindo, announced the filings here March 13. Amerindo hopes to make the first two funds available to investors in late May and will launch the third, clone fund once the Amerindo Technology Fund tops $1.5 billion in assets, the company said.

Amerindo expects 70 percent of the $4 trillion in profits that will be generated over the Internet between now and 2004 will derive from business-to-business activity, Vilar said. The firm plans to take advantage of this new wealth with its new Internet B2B Fund, which will invest in pure-play Internet and telecommunications stocks, he said. The fund will also pay close attention to "intelligent software and fiber [stocks because] that's where the whole world is moving," Vilar said.