New Leaders fund encapsulates the paradigm madness of 2000

Although not a pure technology fund, Framlington's New Leaders offering is possibly the best encapsu...

Although not a pure technology fund, Framlington's New Leaders offering is possibly the best encapsulation of the paradigm madness that swept the market in 2000. The world looked to be a changing place in the late 1990s, with every facet of life set to be made easier by some device and people planning to live out their whole lives in cyberspace. The story of technology companies on massively inflated valuations is well known, as is the subsequent fate of the many funds launched at the very top of the market. The phrase 'blue sky' quickly replaced 'new economy' in investment lingo in mid...