BSE Sensex opened 550 points up following Wall Street gains on Thursday, as renewed hopes for more US stimulus helped restore investor confidence in the New York session. Nifty IT is up 4% today, after sector-major TCS beat Street estimates in the September quarter. Top five gainers on the Nifty50 index are from the IT space. TCS remained the top gainer, up 4% followed by Wipro, Tech Mahindra, HCL Tech and Infosys. This jump in prices will also take the NAV of technology mutual funds up by the end of the day for sure. Here’s a look at the top technology mutual funds, their returns and the top five holdings in their respective portfolios.
ICICI Pru Technology Fund: The biggest fund in the category managing assets wroth ₹545 crore invests is the best performing scheme in the category. ICICI Pru Technology Fund has given over 42% returns in the last one year. In three-and five-year periods, the scheme has given 26% and over 14% annualised returns respectively. The scheme is managed by Sankaran Naren and Vaibhav Dusad. The scheme invests over 27% in Infosys. other top four holdings include Bharti Airtel (9.76%), TCS (6.55%), IndiaMart Intermesh (5.83%) and Tech Mahindra (4.84%).
Aditya Birla Sun Life Digital India Fund: The second biggest fund in teh category with assets worth ₹540 crore. Top five stocks where the scheme invests in are Infosys (25%), Bharti Airtel (10.75%), Tech Mahindra (9.66%), HCL Technologies (6.74%) and Majesco (6.40%). The fund is managed by Kunal Sangoi. The scheme has given 37% returns in 1-year, 25% in three- and 16% in five-years respectively.
Tata Digital India : The third biggest scheme in the technology space holding an AUM of ₹461 crore has given 34.6% returns in the last one year. In three year, the scheme has given 27% returns. The scheme is managed by Rahul Singh. The scheme has 36% in Infosys, 16% in TCS, 9% in HCL Technologies, 7% in Persistent Systems and 7% in Wipro.