The new fund offer or NFO of the scheme is open for subscription and it will close on September 5.
The performance of the scheme will be benchmarked against S&P BSE TECk TRI. Sandeep Tandon, Ankit Pande, Sanjeev Sharma, and Vasav Sahgal will manage the scheme.
According to the scheme information document, the investment objective of the scheme is to generate consistent returns by investing in equity and equity-related instruments of technology-centric companies.
The minimum application amount is Rs 5,000 plus in multiple of Re 1 thereafter. The minimum application amount for SIP is Rs 1,000 and multiple of Re 1. The scheme will offer regular and direct plans with growth and IDCW options.
The scheme will allocate minimum 80% of the assets to the technology, media, and telecom (TMT) theme, which includes consulting companies, digital service providers, data and data solution providers, fintech companies, internet companies, IT software/ hardware/ infrastructure/ services companies, media companies, platform/ aggregator services companies, telecom and related software & infrastructure companies. The scheme will invest 80-100% in equity and equity related instruments, 0-20% in debt & money market instruments, 0-5% in units issued by REITs & InvITs, and 0-20% in foreign securities including ADRs / GDRs / foreign equity and debt securities and overseas ETFs. The scheme is suitable for investors looking for capital appreciation over the long term. Should you invest? We typically ask investors to invest in an NFO only if it offers something unique or something extra to an already existing option. The fund house claims that it is the first tech scheme to follow TMT strategy or technology, media and telecom theme. If you want to invest in a scheme that will invest in the TMT theme, you can invest in the NFO. If you are betting on IT, there are many schemes with a proven track record to choose from.
