Wells Fargo Funds reports strong investor interest in a new product designed to temper the volatility usually associated with New Economy stocks.

The Specialized Technology Fund, which invests in aerospace, biotechnology, communications equipment, Internet services, defense, health care, semiconductors and computer software and hardware companies, was launched Monday. Wells Fargo said it raised $79 million - $69 million more than it says it had hoped for - in an initial subscription that ended Friday.

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