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Invesco Mutual Fund forays into the technology sector; check details
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3 min read | Updated on September 04, 2024, 18:13 IST
SUMMARY
The Invesco India Technology Fund is an open-ended equity scheme focusing on companies in the technology sector, including those engaged in automation, AI, and digital adoption. Launched on September 3, 2024, with the NFO closing on September 17, 2024, it seeks to generate long-term capital appreciation through strategic investments in technology.
Invesco Mutual Fund forays into the technology sector – here are the details
Invesco India Technology Fund is an open-ended equity ccheme aimed to generate capital appreciation by investing in equity and equity-related instruments of technology and technology-related companies. The scheme focuses on companies driving transformative innovations in areas like automation, robotics, artificial intelligence, cloud computing, and other technology firms benefiting from increased digital adoption.
The scheme is classified as Equity Scheme - Sectoral/Thematic and launched on September 3, 2024, with a New Fund Offer (NFO) closing on September 17, 2024. The minimum subscription amount is ₹1,000 per application.
Risk-o-meter
Funds Allocation
| Types of Instruments | Minimum Allocation (% of Net Assets) | Maximum Allocation (% of Net Assets) |
|---|---|---|
| Equity and Equity related instruments of companies in technology and technology related sectors including those benefitting from increased digital adoption | 80 | 100 |
| Other equity and equity-related instruments | 0 | 20 |
| Debt and Money Market Instruments | 0 | 20 |
| Units issued by REITs and InvITs | 0 | 10 |
Who should invest in this fund?
This NFO of the Invesco India Technology Fund is suitable for investors who are seeking capital appreciation over the long term and who want to invest predominantly in equity and equity-related instruments of companies engaged in the technology and technology-related sectors.
Benchmark
The performance of the Invesco India Technology Fund will be benchmarked to the performance of the Nifty IT TRI.
Peer Fund Schemes
| Scheme Name | AUM (₹ Crore) | 1 Year (%) | 3 Years (%) | 5 Years (%) | 10 Years (%) | Since Launch Rtn. (%) |
|---|---|---|---|---|---|---|
| Franklin India Technology Fund | 1,774.27 | 51.23 | 17.8 | 28.29 | 18.14 | 19.8 |
| Tata Digital India | 11,377.33 | 46.12 | 13.79 | 27.86 | - | 21.04 |
| ICICI Prudential Technology Fund | 13,422.37 | 43.93 | 12.45 | 28.85 | 19.18 | 13.3 |
| ABSL Digital India | 5,138.21 | 37.25 | 13.33 | 28.4 | 19.64 | 12.63 |
| SBI Technology Opportunities | 4,206.13 | 36.53 | 13.46 | 26.36 | 17.87 | 21.24 |
Who Manages the Scheme?
Hiten Jain
More than 15 years of experience in industry and equity research.
Assignments held during the last 10 years: May 23, 2016 - till date Invesco Asset Management (India) Pvt. Ltd., August 05, 2010 - May 20, 2016 Global Research & Analytics - CRISIL Ltd., Mumbai
Aditya Khemani
More than 18 years of experience in the securities market.
Assignments held during the last 10 years: November 1, 2023, onwards Invesco Asset Management (India) Pvt. Ltd., July 24, 2019, to October 31, 2023, EVP & Fund Manager - Equity - Motilal Oswal Asset Management India Company Limited.
The Invesco India Technology Fund is ideal for long-term investors looking to capitalise on growth in the technology sector, leveraging innovations and digital advancements to achieve potential capital appreciation.
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