Paul Meeks, manager of Merrill Lynch Investment Managers' Global Technology Fund in New York, has left the firm.

Meeks used to manage Merrill's flagship $1bn (€1.6bn) Internet Strategies Fund, which closed only 14 months after it launched, with a 71% decline in value, and was folded into the Global Technology Fund. The Global Technology Fund has also been hard hit, falling over 41.8% in value this year, according to Morningstar, the fund ratings agency.