Performance Review: ICICI Prudential Technology Fund
ICICI Prudential Mutual Fund came up with its technology sector dedicated fund in March 2000. Indeed, it was quite the right time to launch such a fund as the technology sector was booming. This fund pre-dominantly invests in the stocks of the information technology sector. The fund is an open-ended equity-oriented sectoral fund. Therefore, in this article, we will take a look at the performance of the ICICI Prudential Technology Fund.
Source: Value Research
The graph shows that fund is outperforming its benchmark S&P BSE IT TRI. Comparing the performance of the fund with its peers makes more sense. As of now, there are only five funds in this space.
The table below compares the performance of the scheme with its peers:
|
Trailing returns (per cent)
|
|
Fund Name
|
1-year Return
|
3-year Return
|
5-year Return
|
AUM (in cr.) (as of 31st Oct 2021)
|
|
ICICI Prudential Technology Fund – Dir
|
83.53 per cent
|
42.87 per cent
|
33.05 per cent
|
₹6,887
|
|
Tata Digital India Fund – Dir
|
81.73 per cent
|
40.20 per cent
|
32.53 per cent
|
₹3,842
|
|
Aditya Birla Sun Life Fund Digital India Fund– Dir
|
76.61 per cent
|
41.36 per cent
|
32.15 per cent
|
₹2,658
|
|
SBI Technology Opportunities Fund
|
73.67 per cent
|
37.84 per cent
|
28.76 per cent
|
₹1,891
|
|
Franklin India Technology Fund - Dir
|
48.19 per cent
|
34.09 per cent
|
26.84 per cent
|
₹721
|
As we can see in the above table ICICI prudential Technology fund, Aditya Birla Sun Life Digital India Fund and Tata Digital India Fund are performing good overall.
Top 5 holdings of ICICI Prudential Technology Fund:
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Company Name
|
Assets%
|
|
Infosys
|
21.69
|
|
Tata Consultancy Services
|
9.38
|
|
HCL Technologies
|
9.24
|
|
Tech Mahindra
|
8.87
|
|
Persistent Systems
|
5.82
|