The new fund offer or NFO of the scheme will open for subscription on September 3 and close on September 17. The scheme will again open for continuous sale and repurchase within five business days from the date of allotment.
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The investment objective of the scheme will be 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 in technology, automation, robotics, artificial intelligence, cloud computing and other technology-based businesses, including those benefiting from increased digital adoption.
The scheme will offer both regular and direct plans with both growth and IDCW options. The minimum application amount for lump sum purchase will be Rs 1,000 per application and in multiples of Rs 1 thereafter. For the change, the minimum application amount will be Rs 1,000 per application and in multiples of Rs 0.01 thereafter.
The scheme will be benchmarked against Nifty IT TRI. The scheme will be managed by Hiten Jain and Aditya Khemani. The scheme will allocate 80-100% in equity and equity-related instruments of companies in technology and technology-related sectors, including those benefiting from increased digital adoption, 0-20% in other equity and equity-related instruments, 0-20% in debt and money market instruments, and 0-10% in units issued by REITs and InvITs. Also Read | How equity mutual funds with AUM of at least Rs 50,000 crore performed in five years
The maximum total expense ratio (TER) permitted under Regulation 52 (6) (c)(i) shall be up to 2.25%. For each purchase of units through a systematic investment plan (SIP), systematic transfer plan (STP) and IDCW transfer plan, the exit load shall be as follows:
- If units are redeemed/exchanged on or before three months from the date of allocation: 0.50%
- If units are redeemed/exchanged after three months: None
- Switch between plans under the scheme: None
The scheme will be suitable for investors seeking long-term capital appreciation and wishing to invest predominantly in shares and equity-related instruments of companies engaged in the technology and technology-related sectors.
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