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Deep Dive: This tech fund manager has stellar returns — and says the sector’s valuations are fine

In interviews with dozens of money managers, a consistent theme has been that during this bull market is it has been very difficult for any active strategy to beat a broad index.

The bull market, which began in March 2009, has been driven in great part by the unprecedented period of low interest rates and central-bank stimulus. And a world awash with cash lifts all boats, so most active strategies don’t give investors much of an advantage.

Rahul Narang has managed the Columbia Global Technology Growth Fund so well that its Class Z shares CMTFX, +0.97% have significantly outperformed its benchmark index.

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