i'll take a stab at it but dont quote me, i just read the news.

given the existing credit crisis, slowing of the economy and recessionary fears, companies are putting their purchases on teleco equipment and advertising on hold. with that said those particular firms revenues may drop a bit. thus the selloff of this fund these last 2 months.

although with the news of the feds lowering of short term rates and auctioning of $60 billion to banks at the end of january this should boost investor confidence like it did today. the $60 billion should provide addition funds for banks to lend to borrowers.

bush and his administration may also announce a tax break which will provide short term relief. this fund should return to their 2007 highs but may take some time while the economy stabilizes.

if you have addition money to invest, its a good time as any to buy more if you are investing mid to long term. though with most sector based funds besides energy & healthcare, they've all taken a beating i think.

I sold some to buy the Africa & Middle East Fund. Its already up over 34% since inception in 9/2007. glty