ICICI Prudential Technology Fund Direct Growth is a new investment fund, that will focus on the direct growth of technology companies. Its investment objective is to deliver strong returns to shareholders by investing in promising companies and technology, while avoiding high risk, high-cost investments. It has been designed to give investors exposure to a variety of technology sectors, including information technology (IT), semiconductors, communications technology, energy technology, life sciences, and financial technology.
AUM
ICICI Prudential is one of the largest asset management companies in India. It is known for its wide variety of schemes that create long term wealth for investors. ICICI Prudential Technology Fund – Direct Plan is one of their schemes. The fund predominantly invests in equity of technology companies. It has suggested investment horizon of three years. In addition to that, it has an exit load of 1%. It also comes under the category of Equity : Sectoral-Technology lawyersmagazine.
Manish Banthia is a fund manager at ICICI Prudential Asset Management Company Limited. He has over 20 years of experience in the field. He has expertise in portfolio management and has worked with Aditya Birla Group. He has also advised the Indian Fixed Income Fund domiciled in Japan.
Manish Banthia holds a Masters in Business Administration from the Indian Institute of Foreign Trade. He also holds a Chartered Accountant designation. ICICI Prudential Asset Management Company Ltd is one of the most sought after mutual fund investment companies in India.
Taxes
ICICI Prudential Technology Fund is one of the many mutual funds available in the market. It is designed to provide investors with a systematic and prudent approach to investing in the IT and ITES sectors. It aims to provide steady and consistent returns by investing in a portfolio of stocks that are part of a Benchmark Index.
It is also possible to invest in the fund through a systematic investment plan (SIP) in which you can choose to invest as little as Rs. 5,000. Although ICICI Prudential has no entry fee for their funds, you may have to pay an exit load of 1% if you decide to exit your investment early.
The fund also offers an attractive thematic fund option. For instance, you can select the fund that is a mix of the most successful technology companies in India. As a result, the fund is able to generate capital appreciation over the long term.
Exit load
ICICI Prudential Technology Fund is a sectoral fund that invests in equity related instruments of IT companies. It can be invested in lump sum or through SIP. It has an investment objective of long term capital appreciation.
ICICI Prudential Technology Fund has an exit load of 1%. The best part is, you can redeem your units within 15 days. The money back option is also available. This option allows you to get back your investment based on the prevailing NAVs. However, the money-back option is not guaranteed.
Another cool feature of the ICICI Prudential Technology Fund is that it can be invested in a SIP. In the SIP mode, you invest a minimum of Rs.100 every month. The ICICI Prudential Technology Fund has a suggested investment horizon of about three years. This is the minimum time frame required to ensure that the downside risk of your investment is minimized.
Investment strategy
ICICI Prudential Technology Fund – Direct Plan is an Equity – Sectoral – Technology Fund. It is open ended and the AUM is 8,693 (Cr). The investment objective of the fund is to provide long term capital appreciation by investing in equity related securities of technology companies and other companies in the Information Technology Services industry. The fund offers a sharp fund option, a thematic fund option, and a withdrawal option. There is no entry fee and investors can invest as little as Rs 5000. It also offers a SIP option.
The fund is managed by Priyanka Khandelwal. The investment team follows a systematic investment process. The investment decisions are based on the team’s perception of the management quality and industry health. The investment process is backed by intense research and quantitative and qualitative measures. The team also looks at the health of the money supply, inflation, and credit off-take.
