Fidelity International has launched a Global Communications SICAV fund to take advantage of the "unprecedented growth" in the sector.
The launch of the fund follows the MSCI and S&P's re-classification of a number of companies that moved from the Telecoms sector into the new Communications Services sector last year.
Housing 26 companies including Twitter and Netflix, the new sector makes up 10% of the S&P 500.
Fidelity's latest launch will be managed by Sumant Wahi who has 18 years' experience researching technology companies. He joined Fidelity in 2014 as senior equity analyst and was recently appointed as a portfolio manager.
The firm said the "unprecedented growth" and global impact of communication services companies provided a "compelling opportunity" for the manager to harness the fast rate of change taking place.
Wahi said: "In recent years, the way people communicate and access entertainment content and other information has changed considerably, due to the evolution and subsequent integration between internet, media and telecommunications companies.
"Communication services act as a 'connective tissue' across sectors and geographies providing unique and attractive opportunities in different regions of the world."