Mutual Funds: Investment for better future 

 March 28, 2022

Icici Prudential Mutual Fund’s ICICI Prudential Technology Fund – Direct Plan-Growth mutual fund scheme is a Sectoral-Technology mutual fund strategy. It invests in companies that are developing cutting-edge technology. This fund has been in operation since it was established on January 1, 2013. It’s been in operation for nine years and three months. ICICI Prudential Technology Direct Plan-Growth is a medium-sized fund, according to its AUM as of December 31, 2021. The fund has an expense ratio of 0.8 percent, which is comparable to the majority of other technology sector funds.

The ICICI Prudential Mutual Fund Technology Direct Plan grew at a rate of 49.17 percent in the previous year. This investment has provided an average annual return of 26.86 percent since 2001. The amount invested in the fund has quadrupled every two years since its creation.

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While the ICICI Prudential Technology Direct Plan-Growth cannot guarantee consistent returns, it does so in a way that is comparable to the majority of funds in its category. It surpasses the industry average in terms of loss containment in a decreasing market.

The fund’s assets are primarily allocated to the information and communications technology and services industries (TCS). Morningstar reports that the product has less exposure to the Technology and Communication sectors than other funds in the category. The fund’s top five holdings, are: Infosys Limited, HCL Technologies Ltd., Tech Mahindra Ltd., Wipro Ltd., and Bharti Airtel Ltd. Among the most popular investments are those in information technology enterprises.

  • One of the key purposes of the investment is to raise the firm’s value.
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The strategy’s goal will be long-term capital appreciation, which will be achieved by investments in shares of technology and technology-dependent enterprises, as well as stock and equity-related instruments issued by these companies. The scheme will invest roughly one-third of its total assets under management (AUM) in the equities represented by the Benchmark Index; however, the scheme may also invest in other enterprises in the Information Technology Services Industry as a whole.

  • The graph below depicts the relationship between currency rates:

The yearly management fees paid to the Mutual Fund provider for managing your assets in the fund are referred to by this phrase. A mutual fund’s expense ratio refers to the fee paid to the fund’s provider for managing your assets. The Expense Ratio is expressed as a percentage of the fund’s Assets Under Management (AUM) after expenses are deducted from net returns, as follows: The lower the expenditure ratio, the better, because it suggests that a smaller amount of earnings will be retained, resulting in greater profits for you.

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This fund’s direct plan, with an expense ratio of 0.8 percent, has a lower cost ratio than the industry average.

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Units purchased or transferred into the Fund from another plan must be redeemed or transferred out within 15 days of allocation. The rate of interest on units purchased or transferred from another Fund plan is 1%.

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