A group of leading international fund managers has created an investment portfolio which it says investors should buy and forget about for 10 years.

The selection, which is featured in Fortune magazine, is based on identifying trends and the stocks which will benefit from those developments in the next decade.

It focuses on the lightning changes in communications networking, the entertainment world, the consolidation of the financial services sector and the coming of age of the biotechnology sector.

Looking at these sectors, the fund managers have selected the following 10 stocks: Broadcom, which makes chips used in the next generation of entertainment devices; stockbrokers Charles Schwab; Enron, which is the biggest online broker of coal, oil and gas; Genetech, the company which promises a huge pipeline of drugs; the mergers and acquisitions specialists Morgan Stanley Dean Witter; mobile phone maker Nokia; Nortel Networks; Oracle; the Spanish language television programmer Univision; and the media group Viacom.

The fund managers say the portfolio is for long-term investors, warning that some of the stocks may experience drops in value over the coming months and years, but should do well over a 10-year period.