Publish Date:
HDFC Mutual Fund introduces – HDFC Technology Fund
It is an open-ended equity scheme investing in technology & technology related companies.
Accordingly, the investment objective of the scheme is to provide long-term capital appreciation by investing predominantly in equity and equity related securities of Technology & technology related companies There is no assurance that the investment objective of the Scheme will be realized.
Under normal circumstances, HDFC Technology Fund will hold an allocation of 80% to 100% of its assets in Equity and Equity related instruments of Technology & technology related companies, 0% to 20% in Equity and Equity related instruments of companies other than above, 0% to 10% in Units of REITs and 0% to 20% in Debt securities, money market instruments and Fixed Income Derivatives and 0% to 20% in Units of Mutual Fund.
As per the Scheme Information Document, HDFC Technology Fund long-term capital appreciation by investing predominantly in equity and equity related securities of technology & technology related companies. The fund will follow a bottom-up approach to stock-picking and choose companies which are expected to derive benefit from development, use and advancement of technology. The Scheme may also invest in the hybrid securities viz. units of REITs and InvITs for diversification and subject to necessary stipulations by SEBI from time to time.
[Read: 5 Equity Mutual Funds Having Higher Exposure to Artificial Intelligence (AI) Stocks]
HDFC Technology Fund performance will be benchmarked against S&P BSE Teck Index
The scheme will be managed by Mr Balakumar B and Mr Dhruv Muchhal
The NFO opens for subscription on August 25, 2023 and closes on September 05, 2023. The schemes will reopen for continuous sale and repurchase within 5 Business Days from the date of allotment.
The fund's face value is Rs 10/- per unit. The minimum subscription amount is Rs 100/- and in multiples of Re. 1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum Capital Withdrawal (IDCW) Option.