Top-performing IT/Tech Mutual Funds (April 2023): Tech and IT stocks are in the news today as most of them lost significantly in the early trade hours on Monday. According to data on the BSE website as of 11 am, stocks like Infosys, LTIMindtree, Tech Mahindra and HCL were among the stocks that fell sharply today. While investing in stocks is always considered risky due to market uncertainties, mutual funds are considered a better option for investors who want to play safe.
In the last five years, several tech mutual funds have given high annualised returns to investors. These tech funds are basically sector/thematic funds that invest mostly in leading IT/tech stocks like Infosys, TCS, HCL, Wipro, Tech Mahindra etc.
Following is a list of the top 5 tech funds that have given high returns in the last 3 and 5 years, as per data on the Association of Mutual Funds in India (AMFI) website as of April 13, 2023. Readers should note that there is no assurance or guarantee that these funds will repeat their past performances in future, especially if the leading tech/IT stocks continue to fall.
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ICICI Prudential Technology Fund
The direct plan of ICICI Prudential Technology Fund has given a return of 42.66% in three years while the regular plan has given a return of 41.19% in three years. In 5 years, the scheme’s direct plan has given a return of 21.14% while the regular plan has given a return of 19.99%. The scheme tracks S&P BSE Teck Total Return Index.
The top stocks in the portfolio of this scheme are Infosys, TCS, Bharti Airtel, Tech Mahindra and Wipro, according to the fund’s factsheet.
Aditya Birla Sun Life Digital India Fund
The direct plan of Aditya Birla Sun Life Digital India Fund has given a return of 38.46% in three years while the regular plan has given a return of 36.80% in three years. In 5 years, the scheme’s direct plan has given a return of 20.67% while the regular plan has given a return of 19.36%. The scheme tracks S&P BSE Teck Total Return Index.
The top stocks in the portfolio of this scheme are Infosys, TCS, HCL, Tech Mahindra, LTIMindtree and Bharti Airtel, according to the fund’s factsheet.
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Tata Digital India Fund
The direct plan of Tata Digital India Fund has given a return of 38.71% in three years while the regular plan has given a return of 36.46% in three years. In 5 years, the scheme’s direct plan has given a return of 21.57% while the regular plan has given a return of 19.56%. The scheme tracks NIFTY IT Total Return Index,
The top IT stocks in the portfolio of this scheme are Infosys, TCS, HCL, LTIMindtree, Tech Mahindra and Wipro, according to the fund’s factsheet.
SBI Technology Opportunities Fund
The direct plan of SBI Technology Opportunities Fund has given a return of 35.43% in three years while the regular plan has given a return of 33.90% in three years. In 5 years, the scheme’s direct plan has given a return of 20.85% while the regular plan has given a return of 19.50%. The scheme tracks S&P BSE Teck Total Return Index.
The top stocks in the portfolio of this scheme are Infosys, TCS, Bharti Airtel, HCL and Wipro, according to the fund’s factsheet.
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Franklin India Technology Fund
The direct plan of Franklin India Technology Fund has given a return of 27.69% in three years while the regular plan has given a return of 26.47% in three years. In 5 years, the scheme’s direct plan has given a return of 16.24% while the regular plan has given a return of 15.26%. The scheme tracks S&P BSE Teck Total Return Index.
The top stocks in the portfolio of this scheme are Infosys, TCS, HCL, Franklin Technology Fund Class J, Bharti Airtel and Tech Mahindra, according to the fund’s factsheet.
(Disclaimer: The above content is for information purposes only based on AMFI website data as of April 13, 2023. Mutual Funds are subject to market risks. Investors are advised to consult their financial advisors before investing)