Personal Finance News
Nifty IT surges 21% in July: How are 7 technology funds with over 50% IT allocation performing?
By Rajeev Kumar
5 min read | Updated on July 30, 2026, 16:16 IST
SUMMARY
There are at least seven technology-themed funds that had over 50% allocation towards IT stocks in their last month's portfolio.
Here's how technology funds with high IT exposure performed since launch.
The Nifty IT index has jumped nearly 21% in July 2026, rising from 25,769.8 on July 1 to 31,168.15 at the time of writing on July 30. The surge in Nifty IT, despite the global AI-led selloff, is likely to draw investors' interest not only to IT stocks but also to mutual funds investing majorly in IT stocks. In this article, we examine how seven technology funds having more than 50% of their portfolios allocated to IT have performed across different time periods.
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There are at least seven technology-themed funds that had over 50% allocation towards IT stocks in their last month's portfolio.
| Fund | IT allocation (%) |
|---|---|
| Motilal Oswal Digital India Fund | 76.45 |
| HDFC Technology Fund | 69.63 |
| Tata Digital India Fund | 66.45 |
| Aditya Birla SL Digital India Fund | 62.73 |
| ICICI Pru Technology Fund | 57.79 |
| SBI Technology Opportunity Fund | 51.10 |
| Invesco India Technology Fund | 50.78 |
Source: ACE MF, allocation up to June 30, 2026
How have these funds performed
Here's a look at their performance across different time periods.
| Fund name | Launch date | Fund manager | 3-month return (%) | 6-month return (%) | 1-year return (%) | 3-year return (%) | 5-year return (%) | Since inception (%) |
|---|---|---|---|---|---|---|---|---|
| Motilal Oswal Digital India Fund | Nov. 4, 2024 | Varun Sharma | 17.71 | 3.53 | 0.14 | 1.28 | ||
| HDFC Technology Fund | Sept. 8, 2023 | Balakumar B | 11.57 | -9.62 | -9.62 | 8.27 | ||
| Tata Digital India Fund | Dec. 28, 2015 | Meeta Shetty | 8.89 | -10.97 | -6.73 | 9.14 | 7.15 | 16.42 |
| Aditya Birla SL Digital India Fund | Jan. 1, 2013 | Kunal Sangoi | 10.76 | -8.49 | -3.90 | 8.11 | 6.94 | 18.42 |
| ICICI Pru Technology Fund | Jan. 1, 2013 | Vaibhav Dusad | 8.36 | -10.17 | -5.64 | 9.74 | 6.72 | 18.97 |
| SBI Technology Opportunity Fund | Jan. 9, 2013 | Vivek Gedda | 8.84 | -8.20 | -3.56 | 11.84 | 9.43 | 18.61 |
| Invesco India Technology Fund | Sept. 23, 2024 | Hiten Jain | 11.64 | 2.66 | 4.80 | 0.27 |
Source: ACE MF, performance data as of July 29, 2026
Motilal Oswal Digital India Fund
The direct plan of Motilal Oswal Digital India Fund has delivered returns of 17.71% and 3.53% over the three-month and six-month periods, respectively, ending July 29, 2026. Launched on November 4, 2024, the scheme is currently managed by Varun Sharma, and it has generated a return of 0.14% in one year and 1.28% since inception.
The direct plan of HDFC Technology Fund has delivered returns of 11.57% and -9.62% over the three-month and six-month periods, respectively, ending July 29, 2026. Launched on September 8, 2023, the scheme is currently managed by Balakumar B, and it has generated a return of -9.62% in one year and 8.27% since inception.
Tata Digital India Fund
The direct plan of Tata Digital India Fund has delivered returns of 8.89% and -10.97% over the three-month and six-month periods, respectively, ending July 29, 2026. Launched on December 28, 2015, the scheme is currently managed by Meeta Shetty, and it has generated a return of -6.73% in one year, 9.14% in three years, 7.15% in five years, and 16.42% since inception.
Aditya Birla SL Digital India Fund
The direct plan of Aditya Birla SL Digital India Fund has delivered returns of 10.76% and -8.49% over the three-month and six-month periods, respectively, ending July 29, 2026. Launched on January 1, 2013, the scheme is currently managed by Kunal Sangoi, and it has generated a return of -3.9% in one year, 8.11% over three years, 6.94% over five years, and 18.42% since inception.
ICICI Pru Technology Fund
The direct plan of ICICI Pru Technology Fund has delivered returns of 8.36% and -10.17% over the three-month and six-month periods, respectively, ending July 29, 2026. Launched on January 1, 2013, the scheme is currently managed by Vaibhav Dusad, and it has generated a return of -5.64% in one year, 9.74% over three years, 6.72% over five years, and 18.97% since inception.
SBI Technology Opportunity Fund
The direct plan of SBI Technology Opportunity Fund has delivered returns of 8.84% and -8.2% over the three-month and six-month periods, respectively, ending July 29, 2026. Launched on January 9, 2013, the scheme is currently managed by Vivek Gedda, and it has generated a return of -3.56% in one year, 11.84% over three years, 9.43% over five years, and 18.61% since inception.
Invesco India Technology Fund
The direct plan of Invesco India Technology Fund has delivered returns of 11.64% and 2.66% over the three-month and six-month periods, respectively, ending July 29, 2026. Launched on September 23, 2024, the scheme is currently managed by Hiten Jain, and it has generated a return of 4.8% in one year and 0.27% since inception.
Disclaimer: The information contained in this article is for informational purposes only and does not represent investment advice from Upstox. Investment decisions should be made based on independent research or consultation with a registered financial advisor. Past performance is not indicative of future results.
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About The Author
Rajeev Kumar is a Deputy Editor at Upstox, and covers personal finance stories. In over 11 years as a journalist, he has written over 2,000 articles on topics like income tax, mutual funds, credit cards, insurance, investing, savings, and pension. He has previously worked with organisations like 1% Club, The Financial Express, Zee Business and Hindustan Times.
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