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5 Best Performing Technology (IT) Sector Funds 2024
The technology sector is a category of equity fund that invest in companies involved in technological businesses, such as manufacturers producing computer software and hardware. It also includes electronics & technological service companies such as those providing information technology, etc. The greatest advantage of Investing in technology Mutual Funds is that investors can gain access and exposure to dozens of technology stocks in just one fund.
India's IT Services Industry was born in Mumbai in 1967 with the establishment of the Tata Group in partnership with Burroughs. The first software export zone, SEEPZ, the precursor to the modern-day IT park, was established in Mumbai in 1973. More than 80 percent of the country's software exports were from SEEPZ in the 1980s.
Technology and IT Sector in India
The technology sector in India is undergoing rapid evolution and is changing the shape of Indian business standards. The global sourcing Market in India continues to grow at a higher pace. The country remained world’s top sourcing destination in 2016-17 with a share of 55%.
India’s IT industry contributed around
7.7%to the country’s GDP and is expected to contribute10%by 2025.
During COVID-19 pandemic Indian IT industry showed positive signs and had the resilience to overcome this mass tragedy. It has emerged as a global economic force and a major contributor to the Indian Economy in particular and the world in general.
Some of India’s leading IT firms are Infosys, TCS, Wipro, Tech Mahindra, etc., that have created a huge mark in the sector.
Technology mutual funds in India have consistently provided an annualized return of 15 percent to 19 percent over a five year period. With such a decent performance in the past, these funds are believed to deliver good returns in the future too.
Ideally, investors should invest in this fund for the purpose of diversification. One should not solely depend on this fund for wealth creation. Investors who are planning to invest in technology funds must closely watch the funds’ past 3 years’ performances. One should have an in-depth knowledge about the technology sector and its future market.
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Top 5 Best Technology (IT) Sector Funds in India FY 24 - 25
To provide long-term capital appreciation by predominantly investing in equity and equity related securities of technology and technology related companies. Franklin India Technology Fund is a Equity - Sectoral fund was launched on 22 Aug 98. It is a fund with High risk and has given a Below is the key information for Franklin India Technology Fund Returns up to 1 year are on To generate long-term capital appreciation for you from a portfolio made up predominantly of equity and equity-related securities of technology intensive companies. ICICI Prudential Technology Fund is a Equity - Sectoral fund was launched on 3 Mar 00. It is a fund with High risk and has given a Below is the key information for ICICI Prudential Technology Fund Returns up to 1 year are on (Erstwhile SBI IT Fund) To provide the investors maximum growth opportunity through equity
investments in stocks of growth oriented sectors of the economy. SBI Technology Opportunities Fund is a Equity - Sectoral fund was launched on 9 Jan 13. It is a fund with High risk and has given a Below is the key information for SBI Technology Opportunities Fund Returns up to 1 year are on The investment objective of the scheme is to seek long term capital appreciation by investing atleast 80% of its net assets in equity/equity related instruments of the companies in Information Technology Sector in India.However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.The Scheme does not assure or guarantee any returns. TATA Digital India Fund is a Equity - Sectoral fund was launched on 28 Dec 15. It is a fund with High risk and has given a Below is the key information for TATA Digital India Fund Returns up to 1 year are on (Erstwhile Aditya Birla Sun Life New Millennium Fund) A multi-sector open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 100% equity, focusing on investing in technology and technology dependent companies, hardware, peripherals and components, software, telecom, media, internet and e-commerce and other technology enabled companies. The secondary objective is income generation and distribution of dividend. Aditya Birla Sun Life Digital India Fund is a Equity - Sectoral fund was launched on 15 Jan 00. It is a fund with High risk and has given a Below is the key information for Aditya Birla Sun Life Digital India Fund Returns up to 1 year are on Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) Franklin India Technology Fund Growth ₹558.507
↑ 8.93 ₹1,774 18.4 24 50.6 17.3 28.5 51.1 ICICI Prudential Technology Fund Growth ₹216.49
↑ 4.02 ₹13,422 22.8 21.5 39.4 11.9 29.4 27.5 SBI Technology Opportunities Fund Growth ₹220.484
↑ 3.59 ₹4,206 21.6 21.1 35.9 13.9 26.9 24.8 TATA Digital India Fund Growth ₹53.3827
↑ 0.18 ₹11,377 22.7 25.2 44.1 13.4 28.5 31.9 Aditya Birla Sun Life Digital India Fund Growth ₹190.68
↑ 3.31 ₹5,138 20.9 18.1 34.2 12.9 28.6 35.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 12 Sep 24 1. Franklin India Technology Fund
CAGR/Annualized return of 19.8% since its launch. Ranked 41 in Sectoral category. Return for 2023 was 51.1% , 2022 was -22.3% and 2021 was 39% . Franklin India Technology Fund
Growth Launch Date 22 Aug 98 NAV (12 Sep 24) ₹558.507 ↑ 8.93 (1.62 %) Net Assets (Cr) ₹1,774 on 31 Jul 24 Category Equity - Sectoral AMC Franklin Templeton Asst Mgmt(IND)Pvt Ltd Rating ☆ Risk High Expense Ratio 2.2 Sharpe Ratio 2.16 Information Ratio 0.48 Alpha Ratio 13.36 Min Investment 5,000 Min SIP Investment 500 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹12,855 31 Aug 21 ₹21,529 31 Aug 22 ₹17,981 31 Aug 23 ₹23,163 31 Aug 24 ₹34,745 Returns for Franklin India Technology Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Sep 24 Duration Returns 1 Month 8% 3 Month 18.4% 6 Month 24% 1 Year 50.6% 3 Year 17.3% 5 Year 28.5% 10 Year 15 Year Since launch 19.8% Historical performance (Yearly) on absolute basis
Year Returns 2023 51.1% 2022 -22.3% 2021 39% 2020 56.8% 2019 12.4% 2018 11.9% 2017 19.1% 2016 -2.6% 2015 3.8% 2014 16.8% Fund Manager information for Franklin India Technology Fund
Name Since Tenure R. Janakiraman 1 Dec 23 0.67 Yr. Varun Sharma 30 Nov 15 8.67 Yr. Sandeep Manam 18 Oct 21 2.79 Yr. Data below for Franklin India Technology Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Technology 45.35% Communication Services 18.73% Consumer Cyclical 11.61% Financial Services 7.96% Industrials 5.97% Health Care 0.05% Asset Allocation
Asset Class Value Cash 8.46% Equity 91.43% Top Securities Holdings / Portfolio
Name Holding Value Quantity Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 5433209% ₹155 Cr 6,741,114 PB Fintech Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5433908% ₹139 Cr 955,470 Franklin Technology I Acc USD
Investment Fund | -6% ₹101 Cr 175,810 TeamLease Services Ltd (Industrials)
Equity, Since 31 Dec 22 | TEAMLEASE5% ₹85 Cr 242,576
↑ 8,790 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 18 | BHARTIARTL4% ₹79 Cr 527,256
↑ 289,870 Zensar Technologies Ltd (Technology)
Equity, Since 31 Jan 23 | ZENSARTECH4% ₹74 Cr 936,272
↓ -12,000 Info Edge (India) Ltd (Communication Services)
Equity, Since 31 Jan 17 | NAUKRI4% ₹72 Cr 102,672
↓ -2,000 IndiaMART InterMESH Ltd (Communication Services)
Equity, Since 31 Aug 20 | INDIAMART4% ₹71 Cr 242,074
↓ -2,578 CE Info Systems Ltd (Technology)
Equity, Since 30 Jun 23 | 5434254% ₹71 Cr 299,164
↓ -15,000 Rategain Travel Technologies Ltd (Technology)
Equity, Since 31 Dec 21 | 5434174% ₹65 Cr 791,227
↑ 40,628 2. ICICI Prudential Technology Fund
CAGR/Annualized return of 13.4% since its launch. Ranked 37 in Sectoral category. Return for 2023 was 27.5% , 2022 was -23.2% and 2021 was 75.7% . ICICI Prudential Technology Fund
Growth Launch Date 3 Mar 00 NAV (12 Sep 24) ₹216.49 ↑ 4.02 (1.89 %) Net Assets (Cr) ₹13,422 on 31 Jul 24 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk High Expense Ratio 1.96 Sharpe Ratio 1.66 Information Ratio -0.33 Alpha Ratio -0.65 Min Investment 5,000 Min SIP Investment 100 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹11,979 31 Aug 21 ₹25,318 31 Aug 22 ₹22,025 31 Aug 23 ₹24,742 31 Aug 24 ₹35,515 Returns for ICICI Prudential Technology Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Sep 24 Duration Returns 1 Month 9.6% 3 Month 22.8% 6 Month 21.5% 1 Year 39.4% 3 Year 11.9% 5 Year 29.4% 10 Year 15 Year Since launch 13.4% Historical performance (Yearly) on absolute basis
Year Returns 2023 27.5% 2022 -23.2% 2021 75.7% 2020 70.6% 2019 2.3% 2018 19.1% 2017 19.8% 2016 -4% 2015 3.9% 2014 26.3% Fund Manager information for ICICI Prudential Technology Fund
Name Since Tenure Vaibhav Dusad 2 May 20 4.25 Yr. Sharmila D’mello 30 Jun 22 2.09 Yr. Data below for ICICI Prudential Technology Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Technology 72.65% Communication Services 14.5% Consumer Cyclical 4.53% Industrials 3.45% Consumer Defensive 0.36% Health Care 0.21% Financial Services 0.17% Asset Allocation
Asset Class Value Cash 3.59% Equity 96.41% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 30 Apr 08 | INFY25% ₹3,319 Cr 17,767,368
↓ -1,494,348 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Sep 19 | TCS12% ₹1,624 Cr 3,702,451
↓ -227,704 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL8% ₹1,080 Cr 7,238,806
↓ -200,000 HCL Technologies Ltd (Technology)
Equity, Since 30 Sep 20 | HCLTECH5% ₹730 Cr 4,447,094
↓ -811,177 Tech Mahindra Ltd (Technology)
Equity, Since 31 Oct 16 | 5327555% ₹683 Cr 4,395,218
↓ -370,000 LTIMindtree Ltd (Technology)
Equity, Since 31 Jul 16 | LTIM5% ₹648 Cr 1,145,386
↓ -103,604 Persistent Systems Ltd (Technology)
Equity, Since 31 May 20 | PERSISTENT3% ₹337 Cr 696,843
↓ -100,519 Wipro Ltd (Technology)
Equity, Since 30 Sep 19 | 5076852% ₹326 Cr 6,238,329
↑ 725,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Aug 22 | 5433202% ₹319 Cr 13,883,779
↑ 700,000 Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services)
Equity, Since 31 Oct 21 | 8901572% ₹300 Cr 2,769,463 3. SBI Technology Opportunities Fund
CAGR/Annualized return of 21.4% since its launch. Ranked 42 in Sectoral category. Return for 2023 was 24.8% , 2022 was -15.5% and 2021 was 66.4% . SBI Technology Opportunities Fund
Growth Launch Date 9 Jan 13 NAV (12 Sep 24) ₹220.484 ↑ 3.59 (1.65 %) Net Assets (Cr) ₹4,206 on 31 Jul 24 Category Equity - Sectoral AMC SBI Funds Management Private Limited Rating ☆ Risk High Expense Ratio 1.99 Sharpe Ratio 1.57 Information Ratio 0.12 Alpha Ratio -1.81 Min Investment 5,000 Min SIP Investment 500 Exit Load 0-15 Days (0.5%),15 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹11,221 31 Aug 21 ₹22,123 31 Aug 22 ₹19,825 31 Aug 23 ₹23,412 31 Aug 24 ₹32,258 Returns for SBI Technology Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Sep 24 Duration Returns 1 Month 9.5% 3 Month 21.6% 6 Month 21.1% 1 Year 35.9% 3 Year 13.9% 5 Year 26.9% 10 Year 15 Year Since launch 21.4% Historical performance (Yearly) on absolute basis
Year Returns 2023 24.8% 2022 -15.5% 2021 66.4% 2020 47.3% 2019 12.2% 2018 17.1% 2017 13% 2016 -3.3% 2015 2.4% 2014 29.2% Fund Manager information for SBI Technology Opportunities Fund
Name Since Tenure Pradeep Kesavan 1 Apr 24 0.33 Yr. Vivek Gedda 1 Apr 24 0.33 Yr. Data below for SBI Technology Opportunities Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Technology 63.74% Communication Services 22.51% Industrials 4.57% Financial Services 2.42% Consumer Cyclical 1.38% Health Care 0.69% Consumer Defensive 0.16% Asset Allocation
Asset Class Value Cash 4.54% Equity 95.46% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jan 03 | INFY28% ₹1,163 Cr 6,223,433 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 18 | BHARTIARTL10% ₹433 Cr 2,900,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 06 | TCS9% ₹361 Cr 823,755 Firstsource Solutions Ltd (Technology)
Equity, Since 31 Mar 23 | FSL5% ₹209 Cr 7,645,887 Tech Mahindra Ltd (Technology)
Equity, Since 31 May 22 | 5327555% ₹202 Cr 1,300,000
↓ -680,000 Coforge Ltd (Technology)
Equity, Since 31 Aug 23 | COFORGE5% ₹192 Cr 304,454 Cognizant Technology Solutions Corp Class A (Technology)
Equity, Since 31 Jul 23 | CTSH4% ₹161 Cr 254,000 IndiaMART InterMESH Ltd (Communication Services)
Equity, Since 31 Jul 23 | INDIAMART3% ₹138 Cr 470,000 Microsoft Corp (Technology)
Equity, Since 31 Aug 20 | MSFT3% ₹133 Cr 38,000 Delhivery Ltd (Industrials)
Equity, Since 31 Jan 23 | 5435293% ₹117 Cr 2,900,000 4. TATA Digital India Fund
CAGR/Annualized return of 21.2% since its launch. Return for 2023 was 31.9% , 2022 was -23.3% and 2021 was 74.4% . TATA Digital India Fund
Growth Launch Date 28 Dec 15 NAV (13 Sep 24) ₹53.3827 ↑ 0.18 (0.34 %) Net Assets (Cr) ₹11,377 on 31 Jul 24 Category Equity - Sectoral AMC Tata Asset Management Limited Rating Risk High Expense Ratio 1.13 Sharpe Ratio 1.76 Information Ratio 0.59 Alpha Ratio 9.36 Min Investment 5,000 Min SIP Investment 150 Exit Load 0-3 Months (0.25%),3 Months and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹11,175 31 Aug 21 ₹23,185 31 Aug 22 ₹20,498 31 Aug 23 ₹23,157 31 Aug 24 ₹34,243 Returns for TATA Digital India Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Sep 24 Duration Returns 1 Month 10.5% 3 Month 22.7% 6 Month 25.2% 1 Year 44.1% 3 Year 13.4% 5 Year 28.5% 10 Year 15 Year Since launch 21.2% Historical performance (Yearly) on absolute basis
Year Returns 2023 31.9% 2022 -23.3% 2021 74.4% 2020 54.8% 2019 7.5% 2018 24.9% 2017 19.6% 2016 -6% 2015 2014 Fund Manager information for TATA Digital India Fund
Name Since Tenure Meeta Shetty 9 Mar 21 3.4 Yr. Kapil Malhotra 19 Dec 23 0.62 Yr. Data below for TATA Digital India Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Technology 78.3% Consumer Cyclical 6.52% Industrials 6.28% Communication Services 4.47% Financial Services 2.63% Asset Allocation
Asset Class Value Cash 1.8% Equity 98.2% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jan 16 | INFY22% ₹2,476 Cr 13,250,598 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jan 16 | TCS11% ₹1,287 Cr 2,933,873
↓ -250,000 Tech Mahindra Ltd (Technology)
Equity, Since 30 Apr 16 | 53275510% ₹1,111 Cr 7,145,933 HCL Technologies Ltd (Technology)
Equity, Since 31 Jan 16 | HCLTECH7% ₹819 Cr 4,983,886 LTIMindtree Ltd (Technology)
Equity, Since 28 Feb 21 | LTIM6% ₹672 Cr 1,188,062 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Oct 22 | 5433206% ₹667 Cr 29,067,000 Wipro Ltd (Technology)
Equity, Since 31 Jul 18 | 5076855% ₹526 Cr 10,071,381 Persistent Systems Ltd (Technology)
Equity, Since 31 Jan 16 | PERSISTENT3% ₹362 Cr 749,192 Mphasis Ltd (Technology)
Equity, Since 30 Sep 20 | 5262993% ₹308 Cr 1,065,817
↑ 286,714 Cyient Ltd (Industrials)
Equity, Since 28 Feb 21 | CYIENT3% ₹286 Cr 1,630,043 5. Aditya Birla Sun Life Digital India Fund
CAGR/Annualized return of 12.7% since its launch. Ranked 33 in Sectoral category. Return for 2023 was 35.8% , 2022 was -21.6% and 2021 was 70.5% . Aditya Birla Sun Life Digital India Fund
Growth Launch Date 15 Jan 00 NAV (12 Sep 24) ₹190.68 ↑ 3.31 (1.77 %) Net Assets (Cr) ₹5,138 on 31 Jul 24 Category Equity - Sectoral AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆ Risk High Expense Ratio 1.88 Sharpe Ratio 1.5 Information Ratio 0.04 Alpha Ratio -3.01 Min Investment 1,000 Min SIP Investment 100 Exit Load 0-365 Days (1%),365 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹12,340 31 Aug 21 ₹24,346 31 Aug 22 ₹21,428 31 Aug 23 ₹25,522 31 Aug 24 ₹34,905 Returns for Aditya Birla Sun Life Digital India Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 12 Sep 24 Duration Returns 1 Month 9.6% 3 Month 20.9% 6 Month 18.1% 1 Year 34.2% 3 Year 12.9% 5 Year 28.6% 10 Year 15 Year Since launch 12.7% Historical performance (Yearly) on absolute basis
Year Returns 2023 35.8% 2022 -21.6% 2021 70.5% 2020 59% 2019 9.6% 2018 15.6% 2017 22.4% 2016 -3.5% 2015 11.2% 2014 21.1% Fund Manager information for Aditya Birla Sun Life Digital India Fund
Name Since Tenure Kunal Sangoi 16 Jan 14 10.55 Yr. Dhaval Joshi 21 Nov 22 1.69 Yr. Data below for Aditya Birla Sun Life Digital India Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Technology 74.55% Communication Services 12.7% Industrials 9.29% Consumer Cyclical 2.36% Asset Allocation
Asset Class Value Cash 1.11% Equity 98.89% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 30 Apr 05 | INFY25% ₹1,267 Cr 6,780,944
↓ -290,542 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 05 | TCS10% ₹538 Cr 1,226,555
↓ -50,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Aug 19 | BHARTIARTL8% ₹429 Cr 2,874,697 HCL Technologies Ltd (Technology)
Equity, Since 31 Dec 10 | HCLTECH7% ₹357 Cr 2,173,428
↓ -100,000 LTIMindtree Ltd (Technology)
Equity, Since 31 Mar 21 | LTIM6% ₹299 Cr 527,753
↓ -7,157 Tech Mahindra Ltd (Technology)
Equity, Since 31 May 13 | 5327555% ₹262 Cr 1,687,053
↑ 340,182 Cyient Ltd (Industrials)
Equity, Since 31 May 14 | CYIENT4% ₹203 Cr 1,152,664 Coforge Ltd (Technology)
Equity, Since 30 Jun 20 | COFORGE3% ₹158 Cr 250,255
↓ -59,300 Sonata Software Ltd (Technology)
Equity, Since 30 Nov 19 | SONATSOFTW3% ₹157 Cr 2,127,683
↑ 40,531 CMS Info Systems Ltd (Industrials)
Equity, Since 28 Feb 22 | 5434412% ₹124 Cr 2,160,094
Who Should Invest in IT Mutual Funds?
As the technology fund belongs to the sector category of Equity Funds they carry high-risk with them. Thus, investors who have the ability to tolerate risk in their investment should only plan to invest in these funds. Also, it is suggested that one should invest for a longer duration, more than five years, to attain long-term benefits of the equity market.
How to Invest in Best Technology Funds Online?
Open Free Investment Account for Lifetime at Fincash.com.
Complete your Registration and KYC Process
Upload Documents (PAN, Aadhaar, etc.). And, You are Ready to Invest!
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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