UK hedge fund manager Marshall Wace has shut down a $600m (€460m) fund focusing on technology stocks because it cannot find enough investment opportunities. It is the second hedge fund manager to shut down a technology fund this year.

A spokesman for Marshall Wace confirmed the decision to shut down the Eureka interactive fund. It had generated a net return of 10% a year since launch seven years ago. It made a loss of 1% in 2006.