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ICICI Pru Technology Fund(G)

ICICI Pru Technology Fund(G)
Dividend Yearly
NA
Category
Equity - Technology
52-week NAV high
62.61  (As on 07-09-2018)
52-week NAV low
51.82  (As on 18-04-2018)
Expense
2.67%  (As on 31-03-2019)

Performance

1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
Fund Returns 1.22 -0.52 -1.34 13.43 23.95 11.00 9.69 13.58 -
Scheme Details
Fund Type
Open Ended
Investment Plan
Growth
Bonus
NA
Launch Date
Mar 03, 2000
Last Dividend
NA
Minimum Investment
5000

ICICI Prudential Asset Management Company is a joint venture between ICICI, one of the largest banks in the country and Prudential Plc, one of the major players in the financial services sector in the UK. Over the course of time, the company has managed to reach a very respectable position in the mutual fund industry in the country.

Investment Objective of ICICI Prudential Technology Fund - Growth

The main objective of the scheme is to make investments in a portfolio invested in equity and its related securities of technology as well as technology-dependent companies.

Key Features of ICICI Prudential Technology Fund - Growth

Some of the key features of ICICI Prudential Technology Fund - Growth have been listed in the table below:

Type of fund Open-ended equity scheme making investments in technology and its related sectors
Plans available Regular and Direct
Options under each plan Growth and Dividend
Risk High
Systematic Investment Plan Available
Systematic Transfer Plan Available
Systematic Withdrawal Plan Available

Investment Amount for ICICI Prudential Technology Fund - Growth

Minimum application amount Rs.5,000
Minimum additional investment Rs.1,000
Minimum installment for Systematic Investment Plan (SIP)
  • Rs.5,000 for quarterly SIP, the number of minimum installments is 4
  • Rs.1,000 for monthly SIP with 6 being the minimum number of installments
Minimum installment for Systematic Withdrawal Plan (SWP) Rs.500
Entry Load Not Applicable
Exit Load
  • If the units are switched out or redeemed before the completion of 365 days from the date of allotment, 1% of the Net Asset Value of the scheme will have to be paid as exit load.
  • Exit load need not be paid if the units are redeemed or switched out after the completion of 1 year from the date of allotment of units.

Asset Allocation for ICICI Prudential Technology Fund - Growth

Type of Security Indicative Allocation (% of total assets) Risk Profile
Maximum Minimum
Debt and money market instruments 20 0 Low to Medium
Equity and equity related securities of companies other than those engaged in technology and technology dependent companies 20 0 Medium to High
Equity and equity related securities of companies engaged in technology and technology dependent companies 100 80 High

Who can invest in ICICI Prudential Technology Fund - Growth

The following entities can make investments in ICICI Prudential Technology Fund - Growth fund:

  • Residents of India, either single or jointly (not more than four)
  • Non-Resident Indians (NRIs)
  • Parent or guardian investing on behalf of minors
  • Partnership firms
  • Hindu Undivided Families (HUFs)
  • Banks and other financial institutions
  • Public Sector Undertakings, Companies, bodies of individuals, and societies that have been registered under the Societies Registration Act, 1860
  • Mutual fund schemes
  • Scientific research organisations
  • Navy, Army, Air Force, and other para-military institutions
  • Foreign Portfolio Investors (FPI) subject to regulations that are applicable
  • Charitable and religious trusts that are eligible to make investments in some securities under the Income Tax Act, 1961

NAV Disclosure and Benchmark for ICICI Prudential Technology Fund - Growth

The NAV of the fund will be disclosed at the end of every business day. The NAV will be accessible in all the customer service centers of the asset management company. The Net Asset Value will have to be published in at least two daily newspapers that have circulation all over the country. The Asset Management Company will also display the NAV in the website of the AMC (www.icicipruamc.com) and the AMFI website (www.amfiindia.com). The NAV of the scheme will have to be updated by the Asset Management Company on the AMFI website and the AMC website before 9:00 p.m. every business day.

ICICI Prudential Technology Fund - Growth Fund Manager

Sankaran Naren, Ashwin Jain, and Priyanka Khandelwal are the fund managers of the scheme.

Investment Restrictions of ICICI Prudential Technology Fund - Growth

Some of the investment restrictions of ICICI Prudential Technology Fund have been listed below:

  • More than 10% of the Net Asset Value of the scheme may not be invested in debt instruments that comprise money and non-money market instruments that have been issued by a single issuer. The investment limit in this case can be extended to 12% of the NAV of the scheme provided prior approval has been received from the Board of directors and the Board of Trustees of the AMC.
  • More than 10% of any company’s paid up capital carrying voting rights may not be owned by the fund under all its schemes.
  • More than 10% of the Net Asset Value of the scheme may not be invested in unrated debt instruments that have been issued by a single issuer. The total investment in this case should not exceed 25% of the Net Asset Value of the scheme.
  • There is an option provided to transfer investments from one scheme to another in the same mutual fund. This is however subject to some terms and conditions.
  • Securities shall be purchased or transferred in the name of the mutual fund if the investments are meant to be long-term in nature.
  • No investments shall be made by the scheme in fund of fund schemes.
  • More than 10% of the Net Asset Value of the scheme may not be invested in equity and its related instruments of any one company.
  • More than 5% of the Net Asset Value of the scheme may not be invested in unlisted equity shares or their related instruments if it is an open-ended scheme.
  • Regulations that are applicable for investment of mutual funds may be followed by the scheme from time to time.

Dividend Policy of ICICI Prudential Technology Fund - Growth

Under the growth option, the scheme will not be declaring any dividends. All the income earned by the scheme will be reinvested in the scheme itself. This will reflect in the Net Asset Value of the scheme. This option will be suitable for investors who are looking for long-term capital appreciation and not expecting a regular source of income from these funds.

Other Facilities under ICICI Prudential Technology Fund - Growth

Some of the special features of ICICI Prudential Technology Fund - Growth have been listed below:

  • Systematic Investment Plan (SIP)
    • SIP Top Up Facility
    • National Automated Clearing House Platform in Systematic Investment Plan (SIP)
    • Systematic Investment Plan Plus (SIP Plus)
  • Systematic Withdrawal Plan
  • Systematic Transfer Plan
    • Value STP
    • Flex STP

Why should you invest in ICICI Prudential Technology Fund - Growth

ICICI Prudential Asset Management Company has grown substantially ever since its inception, starting with 2 locations and 6 employees and increasing now to more than 1900 employees across 200 locations. There are more than 3 million investors who have invested in ICICI Prudential funds. The company thrives by following an investor-centric approach, putting the needs of the investor first and making sure that they achieve their investment objectives.

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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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