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IT mutual funds turn backbenchers, lose up to 9% in three months

May 6, 2024
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​Only losers
IT or technology-based mutual funds have lost around 3.83% on an average in the last three months. There were around seven active funds in the category that have completed three months of existence.

IANS

​Aditya Birla Sun Life Digital India Fund

2/8

​Aditya Birla Sun Life Digital India Fund

This scheme lost the most at around 8.77% in the last three months. Launched in January 2000, the scheme manages assets of Rs 4,563 crore as on March 31, 2024.

ET Online and Agencies

​ICICI Prudential Technology Fund

3/8

​ICICI Prudential Technology Fund

The largest scheme in the category lost around 6.86% in the last three months. The scheme is benchmarked against S&P BSE TECk Index – TRI which lost around 7.28% in the same period.

iStock

​Three other losers
Three schemes – SBI Technology Opp Fund, Tata Digital India Fund, and HDFC Technology Fund – lost around 6.67%, 4.99%, and 3.69% respectively.

Agencies

​One-month performance

5/8

​One-month performance

IT or technology-based mutual funds have offered negative returns in the last one month as well. These funds lost around 2.31% in the said period.

Getty Images

Outliers
Only two schemes – Quant Teck Fund and Franklin India Technology Fund – offered positive returns in the last three months, rising 0.30% and 3.85%, respectively.

ETMarkets.com

​Should you invest?
Thematic or sector schemes invest most of their corpus in a particular sector, and the performance of schemes is based on the performance of the sector. That is why thematic or sector funds are recommended only to investors with thorough knowledge about the sector.

ETMarkets.com

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