Edelweiss Mutual Fund Launches New Technology Fund

Edelweiss Mutual Fund Launches New Technology Fund
Edelweiss Mutual Fund has introduced the Edelweiss Technology Fund, an open-ended equity scheme designed to invest in technology and technology-related enterprises. The scheme's new fund offer (NFO) is currently open for subscription until February 28. This scheme offers investors exposure to both Indian and US-listed technology companies, as well as global exposure in a tax-efficient manner, as outlined in the press release.
The scheme aims for long-term capital growth by investing in equity and equity-related securities of technology and tech-related companies. The fund's performance will be evaluated against the S&P BSE TECk TRI index. Management of the scheme will be handled by Trideep Bhattacharya, Sahil Shah, and Amit Vora for overseas investments. The scheme will provide regular and direct plans, offering both growth and IDCW options.
"In an era where technology is integral to our lives, we're thrilled to unveil our latest fund in the technology space. This offering provides investors an opportunity to tap into dynamic Indian and US-based tech stocks in a unique and tax-efficient manner. Our proven success in running a US Technology Fund of Fund in collaboration with JP Morgan underscores our commitment to providing diverse investment avenues and navigating the ever-evolving tech landscape", said Radhika Gupta, MD & CEO, Edelweiss Mutual Fund.
"We anticipate a substantial increase in technology penetration across all industries globally over the next decade. Our approach to participate in this trend will be through our Edelweiss Technology Fund, where we aim to take meaningful exposure to global industry leaders spanning various sub-sectors of technology along with Indian IT services and new-age tech companies", said Trideep Bhattacharya, President & CIO-Equities, Edelweiss Mutual Fund.
The minimum application amount for lump sum and SIP investments is set at Rs 100, with subsequent multiples of Re 1. This scheme caters to investors aiming for long-term capital growth and interested in investing in equity and equity-related instruments of technology and technology-related companies. The principal invested in the scheme is categorized as "very high" risk according to the scheme's riskometer.