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5 Best Performing Technology (IT) Sector Funds 2023
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 23 - 24
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 (%) 2022 (%) Franklin India Technology Fund Growth ₹292.329
↓ -2.38 ₹679 3.9 4.5 -11.1 18.3 15.2 -22.3 ICICI Prudential Technology Fund Growth ₹135.97
↓ -1.40 ₹8,794 1.4 5.1 -10.9 30.4 21.2 -23.2 SBI Technology Opportunities Fund Growth ₹144.136
↓ -0.72 ₹2,741 5.2 11.2 0 26.8 20.7 -15.5 TATA Digital India Fund Growth ₹32.0424
↓ -0.26 ₹6,464 1.1 4.9 -10.4 26.4 20.4 -23.3 Aditya Birla Sun Life Digital India Fund Growth ₹118.21
↓ -1.30 ₹3,244 1.1 5.6 -9.5 26.4 19.7 -21.6 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 25 Jan 23 1. Franklin India Technology Fund
CAGR/Annualized return of 18.1% since its launch. Ranked 41 in Sectoral category. Return for 2022 was -22.3% , 2021 was 39% and 2020 was 56.8% . Franklin India Technology Fund
Growth Launch Date 22 Aug 98 NAV (25 Jan 23) ₹292.329 ↓ -2.38 (-0.81 %) Net Assets (Cr) ₹679 on 31 Dec 22 Category Equity - Sectoral AMC Franklin Templeton Asst Mgmt(IND)Pvt Ltd Rating ☆ Risk High Expense Ratio 2.45 Sharpe Ratio -1.56 Information Ratio -0.42 Alpha Ratio -10.48 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 Dec 17 ₹10,000 31 Dec 18 ₹11,192 31 Dec 19 ₹12,580 31 Dec 20 ₹19,721 31 Dec 21 ₹27,419 31 Dec 22 ₹21,304 Returns for Franklin India Technology Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 25 Jan 23 Duration Returns 1 Month 5.4% 3 Month 3.9% 6 Month 4.5% 1 Year -11.1% 3 Year 18.3% 5 Year 15.2% 10 Year 15 Year Since launch 18.1% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 53.3% Fund Manager information for Franklin India Technology Fund
Name Since Tenure Anand Radhakrishnan 3 Mar 07 15.84 Yr. Varun Sharma 30 Nov 15 7.09 Yr. Sandeep Manam 18 Oct 21 1.21 Yr. Data below for Franklin India Technology Fund as on 31 Dec 22
Equity Sector Allocation
Sector Value Technology 64.98% Communication Services 15.41% Consumer Cyclical 9.8% Industrials 3.06% Financial Services 2.91% Basic Materials 0.82% Real Estate 0.28% Health Care 0.15% Energy 0.04% Consumer Defensive 0% Asset Allocation
Asset Class Value Cash 2.12% Equity 97.59% Debt 0.01% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 29 Feb 12 | INFY17% ₹118 Cr 722,794
↓ -5,751 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Aug 04 | TCS13% ₹95 Cr 280,000 HCL Technologies Ltd (Technology)
Equity, Since 30 Jun 14 | HCLTECH10% ₹70 Cr 628,738
↓ -1,262 Franklin Technology I Acc USD
Investment Fund | -8% ₹59 Cr 175,810 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 18 | BHARTIARTL7% ₹47 Cr 558,417
↓ -12,408 Tech Mahindra Ltd (Technology)
Equity, Since 28 Feb 14 | 5327554% ₹31 Cr 284,336 Info Edge (India) Ltd (Communication Services)
Equity, Since 31 Jan 17 | NAUKRI3% ₹24 Cr 60,265 Cyient Ltd (Industrials)
Equity, Since 31 Dec 06 | CYIENT3% ₹21 Cr 255,722 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 5433203% ₹20 Cr 3,044,107
↑ 243,939 MakeMyTrip Ltd (Consumer Cyclical)
Equity, Since 31 Mar 20 | MMYT3% ₹20 Cr 82,135 2. ICICI Prudential Technology Fund
CAGR/Annualized return of 12.1% since its launch. Ranked 37 in Sectoral category. Return for 2022 was -23.2% , 2021 was 75.7% and 2020 was 70.6% . ICICI Prudential Technology Fund
Growth Launch Date 3 Mar 00 NAV (27 Jan 23) ₹135.97 ↓ -1.40 (-1.02 %) Net Assets (Cr) ₹8,794 on 31 Dec 22 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk High Expense Ratio 2.07 Sharpe Ratio -1.37 Information Ratio 1.06 Alpha Ratio -7.36 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 Dec 17 ₹10,000 31 Dec 18 ₹11,912 31 Dec 19 ₹12,191 31 Dec 20 ₹20,797 31 Dec 21 ₹36,549 31 Dec 22 ₹28,061 Returns for ICICI Prudential Technology Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 25 Jan 23 Duration Returns 1 Month 1.8% 3 Month 1.4% 6 Month 5.1% 1 Year -10.9% 3 Year 30.4% 5 Year 21.2% 10 Year 15 Year Since launch 12.1% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 62.6% Fund Manager information for ICICI Prudential Technology Fund
Name Since Tenure Vaibhav Dusad 2 May 20 2.67 Yr. Sharmila D’mello 30 Jun 22 0.51 Yr. Data below for ICICI Prudential Technology Fund as on 31 Dec 22
Equity Sector Allocation
Sector Value Technology 80% Communication Services 13.78% Industrials 1.98% Consumer Cyclical 1.46% Financial Services 0.21% Energy 0.1% Consumer Defensive 0.05% Asset Allocation
Asset Class Value Cash 2.41% Equity 97.59% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 30 Apr 08 | INFY34% ₹3,212 Cr 19,645,184
↑ 1,432,476 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Sep 19 | TCS18% ₹1,652 Cr 4,872,492
↑ 3,710 HCL Technologies Ltd (Technology)
Equity, Since 30 Sep 20 | HCLTECH10% ₹948 Cr 8,462,176 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL8% ₹712 Cr 8,384,200
↑ 720,201 Wipro Ltd (Technology)
Equity, Since 30 Sep 19 | 5076855% ₹454 Cr 11,146,084
↓ -3,478,614 Tech Mahindra Ltd (Technology)
Equity, Since 31 Oct 16 | 5327553% ₹324 Cr 3,011,906
↓ -268,878 LTIMindtree Ltd (Technology)
Equity, Since 31 Jul 16 | LTIM2% ₹194 Cr 401,895
↑ 61,390 Zee Entertainment Enterprises Ltd (Communication Services)
Equity, Since 31 Jan 22 | ZEEL2% ₹141 Cr 5,340,571
↑ 1,735,008 Accenture PLC Class A (Technology)
Equity, Since 28 Feb 21 | ACN1% ₹102 Cr 43,600 Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services)
Equity, Since 31 Oct 21 | 8901571% ₹74 Cr 1,590,489 3. SBI Technology Opportunities Fund
CAGR/Annualized return of 20.1% since its launch. Ranked 42 in Sectoral category. Return for 2022 was -15.5% , 2021 was 66.4% and 2020 was 47.3% . SBI Technology Opportunities Fund
Growth Launch Date 9 Jan 13 NAV (27 Jan 23) ₹144.136 ↓ -0.72 (-0.50 %) Net Assets (Cr) ₹2,741 on 31 Dec 22 Category Equity - Sectoral AMC SBI Funds Management Private Limited Rating ☆ Risk High Expense Ratio 2.26 Sharpe Ratio -0.93 Information Ratio 0.78 Alpha Ratio 1.46 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 Dec 17 ₹10,000 31 Dec 18 ₹11,714 31 Dec 19 ₹13,148 31 Dec 20 ₹19,371 31 Dec 21 ₹32,238 31 Dec 22 ₹27,252 Returns for SBI Technology Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 25 Jan 23 Duration Returns 1 Month 3.4% 3 Month 5.2% 6 Month 11.2% 1 Year 0% 3 Year 26.8% 5 Year 20.7% 10 Year 15 Year Since launch 20.1% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 Fund Manager information for SBI Technology Opportunities Fund
Name Since Tenure Saurabh Pant 1 Jan 22 1 Yr. Mohit Jain 1 Jan 22 1 Yr. Data below for SBI Technology Opportunities Fund as on 31 Dec 22
Equity Sector Allocation
Sector Value Technology 75.23% Communication Services 20.08% Consumer Cyclical 0.39% Health Care 0.21% Consumer Defensive 0.19% Industrials 0.14% Utility 0.04% Financial Services 0.02% Asset Allocation
Asset Class Value Cash 3.7% Equity 96.3% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jan 03 | INFY30% ₹850 Cr 5,200,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 06 | TCS13% ₹373 Cr 1,100,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 18 | BHARTIARTL10% ₹280 Cr 3,300,000 NVIDIA Corp (Technology)
Equity, Since 30 Apr 21 | NVDA7% ₹200 Cr 157,000 HCL Technologies Ltd (Technology)
Equity, Since 31 Mar 06 | HCLTECH7% ₹191 Cr 1,700,000 Netflix Inc (Communication Services)
Equity, Since 31 Aug 21 | NFLX6% ₹181 Cr 78,955
↓ -13,045 Microsoft Corp (Technology)
Equity, Since 31 Aug 20 | MSFT5% ₹127 Cr 65,000
↓ -27,000 Wipro Ltd (Technology)
Equity, Since 30 Apr 21 | 5076854% ₹125 Cr 3,080,000 Tech Mahindra Ltd (Technology)
Equity, Since 31 May 22 | 5327553% ₹89 Cr 830,000 Invesco QQQ Trust
- | QQQ3% ₹78 Cr 34,000 4. TATA Digital India Fund
CAGR/Annualized return of 17.9% since its launch. Return for 2022 was -23.3% , 2021 was 74.4% and 2020 was 54.8% . TATA Digital India Fund
Growth Launch Date 28 Dec 15 NAV (27 Jan 23) ₹32.0424 ↓ -0.26 (-0.79 %) Net Assets (Cr) ₹6,464 on 31 Dec 22 Category Equity - Sectoral AMC Tata Asset Management Limited Rating Risk High Expense Ratio 0 Sharpe Ratio -1.37 Information Ratio 0.51 Alpha Ratio -2.44 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 Dec 17 ₹10,000 31 Dec 18 ₹12,492 31 Dec 19 ₹13,425 31 Dec 20 ₹20,786 31 Dec 21 ₹36,260 31 Dec 22 ₹27,815 Returns for TATA Digital India Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 25 Jan 23 Duration Returns 1 Month 2.2% 3 Month 1.1% 6 Month 4.9% 1 Year -10.4% 3 Year 26.4% 5 Year 20.4% 10 Year 15 Year Since launch 17.9% Historical performance (Yearly) on absolute basis
Year Returns 2022 -23.3% 2021 74.4% 2020 54.8% 2019 7.5% 2018 24.9% 2017 19.6% 2016 -6% 2015 2014 2013 Fund Manager information for TATA Digital India Fund
Name Since Tenure Meeta Shetty 9 Mar 21 1.82 Yr. Venkat Samala 26 Nov 20 2.1 Yr. Data below for TATA Digital India Fund as on 31 Dec 22
Equity Sector Allocation
Sector Value Technology 77.43% Communication Services 10.43% Industrials 3.95% Consumer Cyclical 1.5% Asset Allocation
Asset Class Value Cash 6.69% Equity 93.31% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jan 16 | INFY26% ₹1,793 Cr 10,964,598 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jan 16 | TCS17% ₹1,161 Cr 3,423,371
↑ 730,000 HCL Technologies Ltd (Technology)
Equity, Since 31 Jan 16 | HCLTECH9% ₹646 Cr 5,765,373
↑ 250,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Oct 21 | BHARTIARTL8% ₹511 Cr 6,019,200 LTIMindtree Ltd (Technology)
Equity, Since 28 Feb 21 | LTIM7% ₹448 Cr 925,479
↓ -6,839 Tech Mahindra Ltd (Technology)
Equity, Since 30 Apr 16 | 5327556% ₹440 Cr 4,087,094 Wipro Ltd (Technology)
Equity, Since 31 Jul 18 | 5076853% ₹204 Cr 5,013,632 Persistent Systems Ltd (Technology)
Equity, Since 31 Jan 16 | PERSISTENT2% ₹106 Cr 254,212
↓ -75,000 Cyient Ltd (Industrials)
Equity, Since 28 Feb 21 | CYIENT2% ₹103 Cr 1,230,889
↑ 50,000 Info Edge (India) Ltd (Communication Services)
Equity, Since 31 Aug 20 | NAUKRI1% ₹78 Cr 194,830 5. Aditya Birla Sun Life Digital India Fund
CAGR/Annualized return of 11.3% since its launch. Ranked 33 in Sectoral category. Return for 2022 was -21.6% , 2021 was 70.5% and 2020 was 59% . Aditya Birla Sun Life Digital India Fund
Growth Launch Date 15 Jan 00 NAV (27 Jan 23) ₹118.21 ↓ -1.30 (-1.09 %) Net Assets (Cr) ₹3,244 on 31 Dec 22 Category Equity - Sectoral AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆ Risk High Expense Ratio 2.19 Sharpe Ratio -1.26 Information Ratio 0.88 Alpha Ratio -5.28 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 Dec 17 ₹10,000 31 Dec 18 ₹11,563 31 Dec 19 ₹12,670 31 Dec 20 ₹20,148 31 Dec 21 ₹34,346 31 Dec 22 ₹26,914 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 25 Jan 23 Duration Returns 1 Month 1.7% 3 Month 1.1% 6 Month 5.6% 1 Year -9.5% 3 Year 26.4% 5 Year 19.7% 10 Year 15 Year Since launch 11.3% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 50.2% Fund Manager information for Aditya Birla Sun Life Digital India Fund
Name Since Tenure Kunal Sangoi 15 Jan 14 8.97 Yr. Data below for Aditya Birla Sun Life Digital India Fund as on 31 Dec 22
Equity Sector Allocation
Sector Value Technology 79.35% Communication Services 10.1% Industrials 6.79% Consumer Cyclical 2.21% Financial Services 0.66% Asset Allocation
Asset Class Value Cash 0.89% Equity 99.11% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 30 Apr 05 | INFY26% ₹879 Cr 5,378,401
↓ -50,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 05 | TCS10% ₹354 Cr 1,045,450 HCL Technologies Ltd (Technology)
Equity, Since 31 Dec 10 | HCLTECH9% ₹311 Cr 2,771,227 Tech Mahindra Ltd (Technology)
Equity, Since 31 May 13 | 5327558% ₹276 Cr 2,563,833
↓ -300,000 LTIMindtree Ltd (Technology)
Equity, Since 31 Mar 21 | LTIM6% ₹208 Cr 430,179
↓ -40 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Aug 19 | BHARTIARTL6% ₹201 Cr 2,364,697 Coforge Ltd (Technology)
Equity, Since 30 Jun 20 | COFORGE3% ₹111 Cr 275,281 Cyient Ltd (Industrials)
Equity, Since 31 May 14 | CYIENT3% ₹109 Cr 1,306,398
↑ 84,673 Zee Entertainment Enterprises Ltd (Communication Services)
Equity, Since 30 Jun 21 | ZEEL3% ₹86 Cr 3,236,967 Wipro Ltd (Technology)
Equity, Since 31 Jan 21 | 5076852% ₹73 Cr 1,800,817
↓ -400,000
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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