The micro blogging site which since its creation in 2006 has helped spark political dissidence, destroy governments and shame politicians and celebrities, priced its shares at $26 each.

UK investors can participate in the initial public offering (IPO) via a number of UK stockbrokers, including Hargreaves Lansdown and TD Direct Investing, which offer US share dealing services.

Twitter’s IPO follows on the heels of other high profile tech floats including Facebook and LinkedIn which have helped put the previously unloved technology sector firmly back in the spot light following the trauma of the dotcom bubble at the turn of the 21st century.

While technology has been given a boost by recent IPOs, the sector’s improving fundamentals are also contributing to more positive sentiment.

Firstly, the sector is benefiting from various secular growth trends. For every Twitter, Apple or Google, there are smaller, less-known firms creating equally innovative products and services in fields such as e-commerce, smart phones and cloud computing.

Secondly, investment in tech companies is starting to increase, especially in the US, following a difficult period during the recession. In fact tech companies can be early beneficiaries in an economic recovery as companies start investing in achieving operational efficiencies.

And thirdly, established names are constantly evolving – take Apple with its seemingly endless stream of new product launches, for example. These businesses are maturing and growing their dividends.

“Nowhere is corporate Darwinism more obvious than in the technology sector. The potential for long-term rewards are huge,” says Adrian Lowcock, senior investment manager at Hargreaves Lansdown.

It may therefore come as a surprise to learn that despite its growth potential, the technology sector is cheap on an historic basis. Valuations are currently at levels seen in 2002 when tech fell out of favour following the collapse of the dotcom bubble.

Price/earnings analysis suggests that valuations are about 20% below their long term average. The sector is currently on a 19.9 price/earnings ratio, while the long term average is 24.

However it is important to remember that the average reflects the higher price/earnings ratio achieved in the dotcom era. Nevertheless, technology remains one of the few “cheap” sectors.

If you want to invest in technology but do not feel comfortable with the risks associated with investing in individual shares, there are number of funds and trusts available to retail investors in the UK.

We ask two experts for their top picks:

Darius McDermott, managing director of Chelsea Financial Services

GLG Technology Trust

The trust, which is rumoured to be buying the Twitter IPO, has around 50% of its exposure in the US. Its biggest holding is ARM Holdings, the semiconductor intellectual property supplier. It also owns Facebook and Apple.

It has returned 44% over three years.

AXA Framlington Global Technology Fund

The fund’s two biggest holdings are Apple and Google. Facebook, eBay and Visa also feature in its top ten holdings. Its biggest geographical is in the US (83%) with the rest of the exposure split between UK (5%), developed Europe (3%), Middle East and Africa (3%), emerging Asia (3%) and developed Asia (3%).

It has returned 27% over three years.

Henderson Global Technology fund

The fund’s biggest regional exposure is the US (77%) followed by developed Europe (9%) and emerging Asia (7%).

Apple, Google, Microsoft, Samsung, Oracle and Facebook all feature in its top ten holdings.

The Henderson Global Technology fund is run by experienced managers Stuart O’Gorman and Ian Warmerdam.

It has returned 32% over three years.

Jason Hollands, managing director of Bestinvest

Herald Investment Trust

Unlike most tech funds, which focus on the well-established and principally US based names, Herald Investment Trust invests in a diversified portfolio of around 200 smaller companies, 60% of which are in the UK. The trust is trading on a 14% discount to NAV.

It has returned 42% over three years.

Polar Capital Technology Trust

The Polar Capital Technology Trust focuses on bigger names such as Apple, Google, Cisco and Microsoft managed by Ben Rogoff.

Hollands says: “Boutique Polar Capital has carved a niche as a leading tech fund manager, with its founders having previously managed tech funds at Henderson. Polar Capital Technology typically trades at around net asset value. It isn’t the bargain that Herald is but has been considerably less volatile. In many ways a combination of the two would be very complementary given their different areas of focus.”

It has returned 43% over three years.

Foresight VCT Top Up Offer

More sophisticated investors who can commit for a minimum of five years (but in practice more), with sizeable existing portfolios and who pay higher rates of tax, might consider an allocation to the Foresight VCT Top Up Offer which is currently seeking to raise £20m in new funds.

Hollands says: “Foresight is no longer an exclusively tech focused Venture Capital Trust but it has a very heavy tech bias in the portfolio, which currently has 17 small, unquoted UK company investments in it. A good example of which is Alaric, a provider of payment protection and fraud detection software for banks. Subscriptions into the offer will receive a 30% income tax credit providing the shares are held for at least five years.”