1.   Among sector funds, the laggards included some portfolios invested in precious metals, real estate and utility stocks.

2.   And a sector fund such as Health Care is inherently risky.

3.   And sector funds are riskier than diversified stock funds.

4.   And momentum manifests itself more reliably among sector funds than individual stocks.

5.   And the firm never started a technology sector fund.

6.   As a subset of often-volatile sector funds, such specialized funds have more often lagged behind the market and most other mutual funds.

7.   Because it is limited to diversified funds, for one, instead of volatile sector fund that rocket up and down with something like gold prices or technology stocks.

8.   Before getting a chance to run a fund, managers typically have to prove themselves by running one or more of these sector funds.

9.   Because Fidelity is the dominant company in sector funds, All Star also chooses among its funds.

10.   Bowers has also devised a system for timing the sale of sector funds.