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ICICI Prudential Technology Fund : Is it Good?

ICICI Prudential Technology Fund is an open ended equity scheme. Further, the fund invests mainly in shares of Companies in Technology and technology related sectors.

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A) ICICI Prudential Technology Fund: Basic Details

ICICI Prudential Technology Fund Basic Details

B) Investment Details

Application Amount for Fresh Subscription :Rs 5,000
(plus in multiples of Re.1)
Min. Addl. Investment :Rs 1,000
(plus in multiples of Re.1)
Minimum SIP Investment Rs 100

C) Returns Generated by the fund

D) Illustration: How your wealth shall grow by investing in ICICI Prudential Technology Fund

E) Portfolio of the fund

a) Top 10 holdings of ICICI Prudential Technology Fund (as % to NAV)

ICICI Prudential Technology Fund top 10 Companies holdings

b) Top 10 Sectors in Portfolio of ICICI Prudential Technology Fund

ICICI Prudential Technology Fund top 10 Sectors

As displayed in the above graph, the top 10 Sectors in Portfolio of ICICI Prudential Technology Fund (as on 30 Nov, 2021) include more than 78% investment in Companies in Software Sector. Further other sectors include Telecom Services, IT Consulting, Application Software and others.

F) ICICI Prudential Technology Fund : Asset Allocation

ICICI Prudential Technology Fund Asset Allocation  pattern

G) Fund Manager - Mr Vaibhav Dusad

Mr Vaibhav Dusad is managing this fund since May, 2020 & has overall 9 years of experience. Mr Dusad has done B.Tech, M.Tech and MBA.

Prior to joining ICICI Prudential AMC Ltd, he has worked with Morgan Stanley, HSBC Global Banking and Markets, CRISIL, Zinnov Mangement Consulting and Citibank Singapore.

H) ICICI Prudential Technology Fund: Investment Strategy

The scheme will seek long term capital appreciation by investing in equity and equity related securities of technology and technology dependent companies.

Moreover, a large share of the AUM will be invested in the stocks under the Benchmark Index. However, the Scheme would opportunistically also invest in companies forming part of Information Technology Services Products, Technology based Online Market Places, Technology Focused Financial (FINTECH).

Technology Sector includes businesses such as:

  • IT services, consulting and outsourcing companies
  • Hardware IT and/or software companies
  • Infrastructure (IT) providers like data centres, leased line providers etc.
  • Fin tech companies
  • Internet companies
  • Digital service providers
  • Telecom, telecom application, telecom software & other infrastructure providers
  • Media , media infrastructure, media content
  • Data and data solutions providers

The above list is indicative.

I) Taxation

1. Gains are taxed at a rate of 15% (Short-term Capital Gain Tax - STCG) if units are redeemed within 1 year of investment.
2. Further, for units redeemed after 1 year of investment, gains of upto Rs 1 lakh accruing from those units in a financial year shall be exempted from tax.
3. Gains of more than Rs. 1 lakh will be taxed at a rate of 10% (Long-term Capital Gain Tax - LTCG).
4. Further, for Dividend Distribution Tax, the dividend income from this fund will get added to the income of an investor and taxed according to his/her respective tax slabs.
5. Also, for dividend income in excess of Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.

J) Conclusion

This Fund is suitable for investors who are seeking:

  • Firstly, Long term wealth creation
  • Secondly, an equity scheme that predominantly invests in equity and equity related securities of technology and technology dependent companies.

Also, Read about Canara Robeco Flexi Cap Fund. Click here

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References:  Annual Reports, News Publications, Investor Presentations, Corporate Announcements, Management Discussions, Analyst Meets & Management Interviews, Industry's Publications.

Disclaimer: The report only represents personal opinions and views of the author. No part of the report should be considered as recommendation for buying/selling any stock. Thus, the report & references mentioned are only for the information of the readers about the industry stated.

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