A Fresh Investment Opportunity in IT Sector Invesco India Technology Fund
Sep 03, 2024
Invesco Mutual Fund has launched Invesco India Technology Fund
It is an open-ended equity scheme investing in technology and technology related sectors
The Indian IT sector continues to be a cornerstone of the country's economy, showcasing resilience and growth amid global uncertainties. As of 2024, the sector remains a significant contributor to India's GDP, driven by its expansive service offerings in software development, consulting, and IT-enabled services.
Investors have increasingly turned their attention towards IT stocks due to several favourable factors. The sector's robust financial performance, characterized by strong revenue growth and high profit margins, has attracted substantial investment. Additionally, the global shift towards digital transformation and the increasing demand for IT services have bolstered investor confidence.
[Read: Best IT Sector Mutual Funds: ICICI Pru Technology Fund vs. Tata Digital India Fund]
The Investment objective of the Scheme is to generate capital appreciation by investing in equity and equity related instruments of companies in the technology and technology related sectors, companies focused on driving transformative innovations across technology, automation, robotics, artificial intelligence, cloud computing and other technology companies including those benefitting from the increased digital adoption.
There is no assurance that the investment objective of the Scheme will be achieved.
Under normal circumstances, Invesco India Technology Fund will hold an allocation of 80% to 100% in Equity and Equity related instruments of companies in technology and technology related sectors including those benefitting from increased digital adoption, 0% to 20% in Other equity and equity related instruments, 0% to 20% in Debt and Money Market Instruments and 0% to 10% in Units issued by REITs and InvITs
Invesco India Technology Fund aims to generate capital appreciation by investing in equity and equity-related instruments of technology-centric and technology-dependent companies both within India and internationally.
The Scheme will follow active investment strategy and will invest across market capitalization. The fund manager will adopt a combination of top-down and bottom-up approaches to identify companies with high growth potential in the realms of technology development & application and focus on companies spearheading transformative innovations in fields such as technology, automation, robotics, artificial intelligence, cloud computing, and other sectors, including those benefiting from increased digital adoption.
Invesco India Technology Fund is benchmarked against the Nifty IT TRI
Invesco India Technology Fund will be managed by Mr Hiten Jain and Mr Aditya Khemani
Invesco India Technology Fund is open for subscription from September 03, 2024 to September 17, 2024. The fund will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
The minimum subscription amount is Rs 1,000/- and in multiples of Re. 1 thereafter.
The fund offers Direct Plan and Regular Plan. Under each plan the fund offers Growth option and Income Distribution cum Capital Withdrawal.