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The Technology Industries

Technological innovation is the keystone of progress. Globally, it has always been. The wheel, fire, bread

and wine, are all products of the creativity and intelligence of mankind. The past 100 years have probably

seen more dramatic innovation than the preceding millennia; no doubt, the next few decades will see more

than the last 100 years, as invention time parameters diminish.

Technological innovation builds rapidly upon its predecessors. Moreover, it crosses industrial and service

industry boundaries, improving all sectors. As an example, laser technology is used in medicine, in defense,

in telecommunications, in manufacturing, and in many other realms.

The investment industry plays a key role in that innovation, providing seed capital and support for ideas,

research, development, and marketing. While established businesses that have grown new products into

vast empires of manufacturing and sales support innovation within their own corporations, the venture

capital and public capital markets also enable scientists and entrepreneurs to realize and grow their

inventions independently.

Computer based technology, in infancy 100 years ago, has transformed the world. Information is

exchanged rapidly, global cooperation is enabled, knowledge is accessible to all, communication via voice,

internet, and even image is within even a child’s reach. Entertainment is globally transmitted and that

entertainment is of itself transformed from simple recording to complex artistry. Transportation has evolved such that the universe can be seen to be within reach and travel to remote, exotic places not an endurance test; on a mundane level, advances in the automotive industry can be seen in every year’s new cars and we are soon to see cars that are also chauffeurs.

Medicine has seen so much innovation that just about every treatment has been disrupted by better ones.

And, we are on the cusp of incredible advances due to the ability to strategize cellularly and attack with

genomic tools.

While the pharmaceutical world provides the means to cure and comfort, other parts of the medical industry are critical as well. Medical technology plays a vital role in delivering safe, effective, and high-quality health care. The industry has developed life-saving and life-enhancing products such as pacemakers, artificial joints, drug-eluting stents, and laparoscopic devices for minimally invasive surgery. Innovations such as micro miniature and remote surgery techniques, DNA-based diagnostics, tissue-engineered organs, life science technologies and biologics are poised to further enhance quality of care. Further pharmaceutical and technological advances will address the world's current health care challenges, including treating and responding to outbreaks of new infectious diseases, biodefense, and meeting health needs in underdeveloped areas.

The U.S. remains a global leader in innovation in technology. Ascent strives to select investment

opportunities for its portfolios that support the evolution of technologies. Ascent has had the capability to

distinguish from among investment possibilities and find those rare opportunities that can be successful in

changing the ways in which obstacles to human advancement, including serious health issues, are addressed, not only benefiting mankind but also earning exceptional returns for investors.

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