More often than not the technology sector is likely to report above par earnings than other sectors as the demand for technology and innovation remains high. However, technology stocks are considered to be more volatile than other sector specific stocks in the short run. In order to minimize this short term volatility almost all tech funds adopt a growth management style with a focus on strong fundamentals and a relatively higher investment horizon. Investors having an above par appetite for risk and fairly longer investment horizon should park their savings in these funds.

Below we will share with you 4 top rated technology mutual funds. Each has earned either a Zacks #1 Rank (Strong Buy)or a Zacks #2 Rank (Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all technology funds, investors can click here to see the complete list of funds.

Fidelity Select Electronics Portfolio (FSELX - MF report) seeks capital growth. The fund invests a lion’s share of its assets in companies whose primary operations are related to electronic components, equipment vendors to electronic component manufacturers, electronic component distributors, and electronic instruments and electronic systems vendors. Investments are made in both domestic and foreign companies. The fund uses fundamental analysis to select companies for investment purposes. The technology mutual fund has a three year annualized return of 19.9%.

Stephen Barwikowski is the fund manager and has managed the fund since 2009.

Black Oak Emerging Technology (BOGSX - MF report) fund invests the majority of its assets in common stocks of firms that are expected to have impressive growth potential to be market leaders in the emerging technology sector. The fund seeks capital appreciation over the long run. The technology mutual fund has a three year annualized return of 15.6%.

This fund has an expense ratio of 1.31% as compared to category average of 1.55%.

T. Rowe Price Science & Technology (PRSCX - MF report) seeks capital growth over the long run. The fund invests a large proportion of its assets in companies which stand to gain from advances in science and technology. Though it primarily focuses on acquiring common stocks domestic companies, the fund may also invest in non-US firms. The technology mutual fund has a three year annualized return of 15%.

As of September 2014, this fund held 82 issues with 7% invested in Amazon.com Inc.

Matthews Asia Science & Technology Investor (MATFX - MF report) invests the major share of its assets in companies located in Asia which generate more than half of their revenues from product and services sales in technology related industries and services. It seeks long term capital growth. The technology mutual fund has a three year annualized return of 18.1%.

This fund has an expense ratio of 1.18% as compared to category average of 1.55%.