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Fincash » ICICI Prudential Technology Fund Vs ABSL Digital India Fund

ICICI Prudential Technology Fund Vs Aditya Birla Sun Life Digital India Fund

Updated on July 6, 2020 , 418 views

ICICI Prudential Technology Fund and Aditya Birla Sun Life Digital India Fund both belong to the sectoral category of Equity Funds. Aditya Birla Sun Life Digital India Fund more precisely belongs to the thematic-sector funds. Both the schemes invest in the stocks of the companies that cater to the technology space in India. Being a sector fund, these funds carry high-risk, thus investors who are planning to invest in these schemes should be able to tolerate high-risk in their investment. Though both the scheme focuses on the technology space, there exists a numerous difference between them. Thus, to make a better investment choice between both the funds, we have done a comparison in regards to their AUM, NAV, past performances, SIP amount, etc.

ICICI Prudential Technology Fund

ICICI Prudential Technology Fund was launched in the year 2000. The fund belongs to the sectoral category of equity funds. ICICI Prudential Technology Fund aims at generating long-term capital appreciation by Investing in equity and related securities of technology and technology dependent companies. Some of the top holdings of the scheme as on 30/06/2018 are Infosys Ltd, Larsen & Toubro Infotech Ltd, Tech Mahindra, HCL Technologies Ltd, Wipro Ltd, etc. The fund is jointly managed by Sankaran Naren and Ashwin Jain.

Aditya Birla Sun Life Digital India Fund (Erstwhile Aditya Birla Sun Life New Millennium Fund)

Aditya Birla Sun Life Digital India Fund (earlier known as Aditya Birla Sun Life New Millennium Fund) is a thematic Equity Fund. The aim of the fund is to provide long-term wealth growth to the investors through a portfolio of 100 percent equity investments in technology and technology enabled /dependent companies. Ideally, investors who want to seek opportunity by investing in telecom, media, entertainment, technology, etc., can plan to invest in this fund. As on 30.06.2018, some of the top holdings of the fund are Infosys Ltd, Tech Mahindra Ltd, Larsen & Toubro Infotech Ltd, Sterlite Technologies Ltd, etc. Aditya Birla Sun Life Digital India Fund is managed by Kunal Sangoi. He has an overall experience of around eight years in the financial markets.

ICICI Prudential Technology Fund Vs Aditya Birla Sun Life Digital India Fund

Though these schemes belong to the same category, yet these schemes differ on various parameters. So, let us understand the parameters which are divided into four sections, namely, Basics Section, Performance Report, Yearly Performance Report, and Other Details Section.

Basics Section

This section compares the various elements such as Current NAV, Scheme Category, and Fincash Rating. To begin with the scheme category, it can be said that both the schemes ICICI Prudential Technology Fund and Aditya Birla Sun Life Digital India Fund belong to the same category Equity Fund. With respect to the next parameter, that is, Fincash Rating, it can be said both the funds are rated as 2-Star. In case of Net Asset Value, ICICI Prudential Technology Fund's NAV as on 18th July, 2018 is INR 56.94 , whereas the NAV of Aditya Birla Sun Life Digital India Fund is INR 50.84. The table given below summarizes the details of basics section.

Parameters
BasicsNAV
Net Assets (Cr)
Launch Date
Rating
Category
Sub Cat.
Category Rank
Risk
Expense Ratio
Sharpe Ratio
Information Ratio
Alpha Ratio
Benchmark
Exit Load
ICICI Prudential Technology Fund
Growth
Fund Details
₹57.78 ↓ -0.40   (-0.69 %)
₹349 on 30 Apr 20
3 Mar 00
Equity
Sectoral
37
High
2.76
-0.73
-0.92
-4.09
Not Available
0-1 Years (1%),1 Years and above(NIL)
Aditya Birla Sun Life Digital India Fund
Growth
Fund Details
₹55.39 ↓ -0.67   (-1.20 %)
₹375 on 30 Apr 20
15 Jan 00
Equity
Sectoral
33
High
2.75
-0.39
0.16
1.3
Not Available
0-365 Days (1%),365 Days and above(NIL)

Performance Section

The performance section compares the Compounded Annual Growth Rate or CAGR returns between both the schemes at different time periods. With respect to performance, it can be said there is not much difference in the performance of both the schemes. However, in many instances, ICICI Prudential Technology Fund leads the race. The performance of both the schemes at different time periods is shown below as follows.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
ICICI Prudential Technology Fund
Growth
Fund Details
5%
24.3%
-0.5%
1.2%
13.3%
8.4%
9%
Aditya Birla Sun Life Digital India Fund
Growth
Fund Details
4.1%
23.7%
1%
7.4%
15.8%
11.2%
0%

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Yearly Performance Section

This section deals with the absolute returns generated by both the funds in each year. In this case, we can see that there is a difference in the performance of both the schemes. In certain situations, Aditya Birla Sun Life Digital India Fund has performed better than ICICI Prudential Technology Fund. While in some situations, the other scheme has performed better. The yearly performance of both the funds is tabulated as follows.

Parameters
Yearly Performance2019
2018
2017
2016
2015
ICICI Prudential Technology Fund
Growth
Fund Details
2.3%
19.1%
19.8%
-4%
3.9%
Aditya Birla Sun Life Digital India Fund
Growth
Fund Details
9.6%
15.6%
22.4%
-3.5%
11.2%

Other Details Section

This is the last section in the comparison of both the funds. In this section, the parameters such as AUM, Minimum SIP and Lumpsum Investment, and Exit Load are compared. To begin with the minimum SIP investment, both the schemes have the same monthly SIP amounts, i.e., INR 1,000. In case of minimum lumpsum investment, the amount for both the schemes are different. For ICICI Prudential Technology Fund the minimum lump sum is INR 5,000 and for Aditya Birla Sun Life Digital India Fund is INR 1,000. The AUM of both the schemes are also different. As on 31st May, 2018, the AUM of ICICI Prudential Technology Fund is INR 372 crores, while of Aditya Birla Sun Life Digital India Fund is INR 147 crores. The table given below summarizes the other details for both the schemes.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
ICICI Prudential Technology Fund
Growth
Fund Details
₹100
₹5,000
Sankaran Naren - 2.97 Yr.
Aditya Birla Sun Life Digital India Fund
Growth
Fund Details
₹1,000
₹1,000
Kunal Sangoi - 6.46 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
ICICI Prudential Technology Fund
Growth
Fund Details
DateValue
30 Jun 15₹10,000
30 Jun 16₹10,801
30 Jun 17₹10,298
30 Jun 18₹14,356
30 Jun 19₹15,162
30 Jun 20₹14,364
Growth of 10,000 investment over the years.
Aditya Birla Sun Life Digital India Fund
Growth
Fund Details
DateValue
30 Jun 15₹10,000
30 Jun 16₹11,256
30 Jun 17₹10,803
30 Jun 18₹15,040
30 Jun 19₹15,955
30 Jun 20₹16,442

Detailed Portfolio Comparison

Asset Allocation
ICICI Prudential Technology Fund
Growth
Fund Details
Asset ClassValue
Cash3.2%
Equity96.8%
Equity Sector Allocation
SectorValue
Technology90.31%
Communication Services3.5%
Industrials3%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 30 Apr 08 | INFY
46%₹164 Cr2,373,740
↓ -44,950
Wipro Ltd (Technology)
Equity, Since 30 Sep 19 | 507685
10%₹37 Cr1,723,802
↑ 46,005
HCL Technologies Ltd (Technology)
Equity, Since 31 Jul 19 | HCLTECH
9%₹33 Cr598,859
↑ 32,310
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Sep 19 | TCS
6%₹22 Cr112,753
↓ -6,739
Larsen & Toubro Infotech Ltd (Technology)
Equity, Since 31 Jul 16 | 540005
5%₹17 Cr92,412
↓ -7,826
Tech Mahindra Ltd (Technology)
Equity, Since 31 Oct 16 | 532755
3%₹12 Cr231,507
↑ 105,171
Treps
CBLO/Reverse Repo | -
3%₹12 Cr
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL
3%₹9 Cr164,265
↑ 164,265
Nucleus Software Exports Ltd (Technology)
Equity, Since 30 Sep 09 | 531209
2%₹8 Cr348,612
↓ -3,229
Hexaware Technologies Ltd (Technology)
Equity, Since 31 May 20 | 532129
2%₹8 Cr324,715
↑ 324,715
Asset Allocation
Aditya Birla Sun Life Digital India Fund
Growth
Fund Details
Asset ClassValue
Cash3.11%
Equity96.88%
Other0.02%
Equity Sector Allocation
SectorValue
Technology65.98%
Communication Services20.44%
Industrials10.46%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Infosys Ltd (Technology)
Equity, Since 30 Apr 05 | INFY
26%₹100 Cr1,450,117
↑ 209,806
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Aug 19 | BHARTIARTL
13%₹51 Cr929,480
↑ 60,000
Tech Mahindra Ltd (Technology)
Equity, Since 31 May 13 | 532755
8%₹30 Cr574,510
↑ 135,062
HCL Technologies Ltd (Technology)
Equity, Since 31 Dec 10 | HCLTECH
7%₹28 Cr506,776
↑ 31,354
Honeywell Automation India Ltd (Industrials)
Equity, Since 30 Jun 18 | 517174
6%₹22 Cr8,159
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 05 | TCS
5%₹18 Cr88,792
↑ 14,210
Just Dial Ltd (Communication Services)
Equity, Since 30 Sep 19 | 535648
4%₹16 Cr401,818
Cyient Ltd (Industrials)
Equity, Since 31 May 14 | CYIENT
4%₹16 Cr784,609
Apple Inc (Technology)
Equity, Since 30 Nov 18 | AAPL
4%₹15 Cr6,286
Majesco Ltd (Technology)
Equity, Since 31 Jan 18 | 539289
4%₹14 Cr458,334
↑ 37,421

Therefore, from the above pointers, it can be said that both the schemes exhibit different attributes with respect to different parameters. However, when it comes to investing, it is always advisable that people should go through the scheme’s modalities completely before doing the actual investment. Additionally, they should also check whether the scheme’s approach is in-line with your investment objective. To get further clarification, you can even consult a financial advisor. This will help you ensure that your investment is safe as well as it paves way for wealth creation.

Disclaimer:
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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