Current Account noticed that the British arm of KPMG Corporate Finance had good news for the sector and bad news for stocks in the more traditional sectors like food, engineering and retailing. KPMG concluded that a two-tier market is emerging for smaller quoted companies - to the benefit of the techies and the detriment of the "traditional" stocks.

KPMG surveyed 90 fund managers in the UK who have a combined £1 billion under management and concluded that there will be a net 17 per cent increase in the money available for investment in British smaller quoted companies.

More than 60 per cent of those surveyed said that they planned to increase their investment in software and computer sectors while 34 per cent planned to reduce their investment in food processors and producers.

Smaller Irish companies are having to cope with being in the euro zone and the resulting disinterest in the sector from domestic fund managers.

And that situation is going to get worse - so expect more departures from the market.