The scheme will be benchmarked against Nifty IT Index TRI.
The scheme will be managed by Aditya Mulki and Ashutosh Shirwaikar.
The investment objective of the scheme is to achieve a return equivalent to Nifty IT Index by investing in stocks of companies comprising the Nifty IT Index, subject to tracking error.
The scheme will have a regular and direct plan with growth options.
According to the scheme information document, the scheme will invest in stocks in proportion to their weightages in the Nifty IT Index. The fund will invest a significant part of its corpus in equities, it will also invest 5% of the corpus in cash/tri party repo, repo in corporate debt securities and money market instruments.The scheme will allocate 95-100% assets in equities and equity-related securities covered by Nifty IT Index, and 0-5% assets in debt and money market instruments.The minimum application amount will be Rs 10 and in multiples of Re1 thereafter.
The scheme will offer the facility of microSIP under the current systematic investment plan facility. The minimum investment amount per instalment will be as per applicable minimum investment amount of the respective scheme. The total investment under microSIP cannot exceed Rs 50,000.
This scheme will be suitable for investors who are seeking capital appreciation over the long-term. The principal invested in the scheme will be at a very high risk as per the riskometer of the scheme.
