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Mutual Funds invest in the stocks of different sectors in order to earn and distribute the income among its investors. The schemes which invest in order to generate income from Technology sector companies or its related companies are termed as Technology Mutual Funds. The three technology mutual funds that have found their way to the top of our list at MySIPonline are as follows.
ICICI Prudential Technology Fund
This scheme by ICICI Prudential Mutual Fund was launched on March 3rd, 2000 with an investment objective to earn capital appreciation through investment in equity and equity-related instruments of technology and its dependent companies. The minimum investment amount with which an investor may start investing in this scheme is Rs. 5000 in lump sum. It also provides an opportunity to those who wish to invest through SIP as well. The minimum SIP amount with which an investor may start investing is Rs. 1000. There is no entry load but if an investor redeems within one year of investment, then he is liable to pay 1% as exit load. This technology fund is managed by Mr. Sankaran Naren & Mr. Ashwin Jain.
SBI Technology Opportunities Fund
Formerly, it was known as SBI IT Fund and was launched on July 14th, 1999 by SBI Mutual Fund. This fund is managed by Mr. Anup Upadhyay who has been managing this fund since June, 2011 and has an overall experience of 11 years. The investment objective of this scheme is to generate capital growth by investing in the equity and related instruments of technology companies and the companies dependent on it. It follows the bottom-up approach to select the stocks of companies to invest in. SBI Technology Opportunities Fund involves high risk which means that the principal amount invested by an investor will be under high risk and only those investors should invest in this technology fund who are ready to face it.
Aditya Birla Sun Life Digital India Fund
Aditya Birla Sun Life Mutual Fund launched a scheme named Aditya Birla Sun Life New Millennium Fund on January 14th, 2010 which is now known as Aditya Birla Sun Life Digital India Fund. Its investment objective is to earn capital appreciation by investing 100% in equity and equity-related instruments of technology sector and its dependent companies. It is an open-ended scheme in which an investor may start investing with a minimum investment amount of Rs. 1000. This fund is managed by Mr. Kunal Sangoi. Those investors may invest in this technology fund who are interested in gaining long-term capital appreciation through investment in Technology, Media, Entertainment, Telecom and other ancillary services. The net asset value at which an investor can buy its units is Rs. 49.45 as on June 25th, 2018 and the assets managed under this scheme are worth Rs. 147 crores as on May 31st, 2018.
If you are an investor looking for an opportunity to gain by investing in Technology Mutual Funds, then you may invest in these schemes. You can do so, both online and offline. To invest via online mode, log on to MySIPonline, a user-friendly platform that you can use anytime and anywhere.