The ICICI Prudential Technology Fund – Direct Plan – Growth mutual fund scheme is a Sectoral-Technology mutual fund strategy offered by Icici Prudential Mutual Fund. It makes investments in firms researching breakthrough technology. This fund has been in operation since January 1, 2013, when it was created. It has been in business for nine years and three months. According to the fund’s AUM as of December 31, 2021, ICICI Prudential Technology Direct Plan-Growth is a medium-sized fund. There is a 0.8 percent expense ratio for the fund, which is in line with the majority of other technology sector funds.
Over the previous year, the ICICI Prudential Technology Direct Plan has had a growth rate of 49.17 percent. Since 2001, this investment has generated an average yearly return of 26.86 percent. Since the fund’s inception, the amount invested has quadrupled every two years.
While the ICICI Prudential Technology Direct Plan-Growth does not guarantee consistent returns, it does so in a manner comparable to the majority of funds in its category. Its capacity to contain losses in a declining market outperforms the industry norm.
The majority of the fund’s assets are dispersed to the information and communications technology and services industries (TCS). According to Morningstar, the product has a lesser exposure to the Technology and Communication sectors than other funds in the category.
They are: Infosys Limited, HCL Technologies Ltd., Tech Mahindra Ltd., Wipro Ltd., and Bharti Airtel Ltd., according to the fund’s top five holdings. Investments in information technology firms are among the most popular.
- One of the investment’s primary goals is to increase the firm’s worth.
The strategy’s objective will be long-term capital appreciation, which will be accomplished by investments in the shares of technology and technology-dependent businesses, as well as in the equity and equity-related instruments issued by these businesses. The plan will invest about one-third of its total assets under management (AUM) in the stocks represented by the Benchmark Index; however, the scheme may also invest in other firms that are part of the Information Technology Services Industry as a whole.
- The following chart illustrates the link between currency rates:
This phrase refers to the yearly management fees paid to the Mutual Fund provider for managing your assets in the fund. The Expense Ratio of a Mutual Fund refers to the fee paid to the fund’s provider for managing your assets. After deducting expenses from the fund’s net returns, the Expense Ratio is expressed as a percentage of the fund’s Assets Under Management (AUM), as follows: The lower the expenditure ratio, the better, since it implies that a lesser proportion of earnings will be kept, resulting in more profits for you.
The direct plan of this fund, which has an expense ratio of 0.8 percent, maintains a lower cost ratio than the industry average.
- Exit Load:
Units bought or transferred into the Fund from another plan must be redeemed or transferred out within 15 days after the date of allocation. The interest rate on units bought or transferred from another Fund plan is 1%.
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