NFO Update: Edelweiss US Technology Equity FoF
A Fund of Fund (FoF) is a mutual fund scheme that invests in other mutual fund schemes. While other normal mutual funds directly invest in equity and bonds, FoF holds other mutual funds in its portfolio. Edelweiss Mutual Fund is coming out with one FoF that will predominantly invest in JPMorgan Funds – US Technology Fund, which is an equity fund that primarily invests in US technology companies having strong fundamentals. The fund is open for subscription till February 28, 2020 and the scheme would re-open for continuous sale and repurchase on or before March 16, 2020.
Asset Allocation
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Investments
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Indicative Allocation (per cent to net assets)
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Risk Profile
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Shares of the underlying Fund i.e. JPMorgan Funds – US Technology Fund*
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95 to 100
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High
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Money Market Instruments, cash and cash equivalent and/or units of Liquid scheme
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0to 5
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Low to Medium
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*Investors are requested to note that the shares of Underlying Fund should be considered conceptually similar to the units of a fund.
Benchmark
This FoF is benchmarked against Russel 1000 Equal Weighted Technology Index. The rationale behind benchmarking against this index is that, the major portion of assets of the scheme are invested in the underlying fund i.e. JPMorgan Funds - US Technology Fund.
Investment Strategy
The fund seeks to invest in companies that are aligned with the mega trends in technology, regardless of sector or capitalisation. These companies are those that have the following attributes:
1. A disruptive business model.
2. A large addressable market.
3. A unique sustainable competitive advantage.
4. A proven management team.
Performance
Fund Manager
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Name of the Fund Manager
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Age & Qualification
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Experience
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Bhavesh Jain
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31 years, Masters in Management Studies (Finance) from the Mumbai University.
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Jain has a total work experience of over 9 years in the equity market segment. He has been associated with the AMC for over three years, formerly as an Equity Dealer and presently as Assistant Fund Manager of the schemes of the Fund. He was previously associated with Edelweiss Securities Limited as SGX Nifty Arbitrage Trader.
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Hardik Varma
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29 years, MBA from NMIMS, Mumbai and CFA Level 3
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Hardik Verma has an overall experience of 6 years as a Research Analyst and has been associated with the AMC since December 2016 as an Equity Research Analyst. Prior to joining the AMC, he was associated with ICICI Securities wherein he covered the Indian IT services sector based on their fundamentals and valuation.
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