The pounding taken by high-tech stocks during recent weeks has not dampened everybody's ardour for the sector.

Asset Management Trust, which provides advice on investing in international unit funds, says the significant rerating experienced by the sector of late could provide a second opportunity for investors to gain vital exposure to what has become known as the "new economy", at value levels.

The company is offering investors a euro-denominated portfolio which is 40 per cent invested in the European technology sector, in conjunction with the Fleming Group. The fund will focus not on dot.com companies but those behind the architecture of the Internet. Asset Management believes these firms, which are involved in infrastructure, networking and accessing, provide the primary investment opportunity in the European technology area.