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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 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 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 (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 (%) ICICI Prudential Technology Fund Growth ₹220.59
↓ -2.50 ₹13,990 4.1 24.1 30.3 10 30.5 27.5 Franklin India Technology Fund Growth ₹558.013
↓ -5.23 ₹1,950 2 16.6 31 16.7 27.3 51.1 SBI Technology Opportunities Fund Growth ₹230.824
↓ -0.60 ₹4,586 6.1 26.6 33.3 13.5 27.9 24.8 TATA Digital India Fund Growth ₹54.4543
↓ -1.42 ₹12,659 3.1 24.1 34.9 12.8 29 31.9 Aditya Birla Sun Life Digital India Fund Growth ₹193.04
↓ -2.16 ₹5,333 3.7 21.8 22.6 11 28.6 35.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 19 Dec 24 1. ICICI Prudential Technology Fund
CAGR/Annualized return of 13.3% 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 (19 Dec 24) ₹220.59 ↓ -2.50 (-1.12 %) Net Assets (Cr) ₹13,990 on 30 Nov 24 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk High Expense Ratio 1.96 Sharpe Ratio 1.34 Information Ratio -0.23 Alpha Ratio 1.05 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 30 Nov 19 ₹10,000 30 Nov 20 ₹15,582 30 Nov 21 ₹28,691 30 Nov 22 ₹25,112 30 Nov 23 ₹28,151 30 Nov 24 ₹37,903 Returns for ICICI Prudential Technology Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Dec 24 Duration Returns 1 Month 7.4% 3 Month 4.1% 6 Month 24.1% 1 Year 30.3% 3 Year 10% 5 Year 30.5% 10 Year 15 Year Since launch 13.3% 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 4.59 Yr. Sharmila D’mello 30 Jun 22 2.42 Yr. Data below for ICICI Prudential Technology Fund as on 30 Nov 24
Equity Sector Allocation
Sector Value Technology 70.53% Communication Services 17.18% Consumer Cyclical 5.04% Industrials 3.51% Financial Services 0.21% Consumer Defensive 0.2% Health Care 0% Asset Allocation
Asset Class Value Cash 3.11% Equity 96.89% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 30 Apr 08 | INFY22% ₹2,998 Cr 17,060,916
↓ -519,128 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Sep 19 | TCS12% ₹1,581 Cr 3,984,724
↑ 250,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL9% ₹1,153 Cr 7,148,806 HCL Technologies Ltd (Technology)
Equity, Since 30 Sep 20 | HCLTECH5% ₹733 Cr 4,149,450 LTIMindtree Ltd (Technology)
Equity, Since 31 Jul 16 | LTIM5% ₹733 Cr 1,283,184
↑ 413 Tech Mahindra Ltd (Technology)
Equity, Since 31 Oct 16 | 5327555% ₹638 Cr 3,965,218
↓ -330,000 Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services)
Equity, Since 31 Oct 21 | 8901574% ₹561 Cr 4,645,340
↑ 1,000,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Aug 22 | 5433203% ₹398 Cr 16,458,409
↑ 2,100,000 Wipro Ltd (Technology)
Equity, Since 30 Sep 19 | 5076853% ₹382 Cr 6,924,382
↓ -320,740 Persistent Systems Ltd (Technology)
Equity, Since 31 May 20 | PERSISTENT2% ₹310 Cr 577,218
↓ -33,312 2. Franklin India Technology Fund
CAGR/Annualized return of 19.6% 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 (19 Dec 24) ₹558.013 ↓ -5.23 (-0.93 %) Net Assets (Cr) ₹1,950 on 30 Nov 24 Category Equity - Sectoral AMC Franklin Templeton Asst Mgmt(IND)Pvt Ltd Rating ☆ Risk High Expense Ratio 2.2 Sharpe Ratio 1.56 Information Ratio 0.59 Alpha Ratio 6.17 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 30 Nov 19 ₹10,000 30 Nov 20 ₹14,678 30 Nov 21 ₹21,630 30 Nov 22 ₹18,342 30 Nov 23 ₹24,821 30 Nov 24 ₹33,473 Returns for Franklin India Technology Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Dec 24 Duration Returns 1 Month 6.9% 3 Month 2% 6 Month 16.6% 1 Year 31% 3 Year 16.7% 5 Year 27.3% 10 Year 15 Year Since launch 19.6% 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 Venkatesh Sanjeevi 4 Oct 24 0.16 Yr. R. Janakiraman 1 Dec 23 1 Yr. Sandeep Manam 18 Oct 21 3.12 Yr. Data below for Franklin India Technology Fund as on 30 Nov 24
Equity Sector Allocation
Sector Value Technology 62.78% Communication Services 15.98% Consumer Cyclical 5.54% Industrials 4.49% Financial Services 3.68% Health Care 0.03% Asset Allocation
Asset Class Value Cash 5.81% Equity 94.12% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 29 Feb 12 | INFY21% ₹382 Cr 2,171,408 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Aug 04 | TCS16% ₹303 Cr 764,559 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 18 | BHARTIARTL12% ₹215 Cr 1,331,730
↑ 130,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 5433205% ₹90 Cr 3,723,911
↑ 924,901 HCL Technologies Ltd (Technology)
Equity, Since 30 Jun 14 | HCLTECH4% ₹68 Cr 387,170 PB Fintech Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5433904% ₹66 Cr 390,695 Tech Mahindra Ltd (Technology)
Equity, Since 28 Feb 14 | 5327554% ₹65 Cr 402,443 TeamLease Services Ltd (Industrials)
Equity, Since 31 Dec 22 | TEAMLEASE3% ₹61 Cr 219,208 Franklin Technology I Acc USD
Investment Fund | -3% ₹57 Cr 95,810 Rategain Travel Technologies Ltd (Technology)
Equity, Since 31 Dec 21 | 5434173% ₹48 Cr 631,875 3. SBI Technology Opportunities Fund
CAGR/Annualized return of 21.3% 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 (19 Dec 24) ₹230.824 ↓ -0.60 (-0.26 %) Net Assets (Cr) ₹4,586 on 30 Nov 24 Category Equity - Sectoral AMC SBI Funds Management Private Limited Rating ☆ Risk High Expense Ratio 1.99 Sharpe Ratio 1.42 Information Ratio 0.39 Alpha Ratio 2.51 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 30 Nov 19 ₹10,000 30 Nov 20 ₹13,591 30 Nov 21 ₹23,898 30 Nov 22 ₹22,115 30 Nov 23 ₹25,178 30 Nov 24 ₹33,705 Returns for SBI Technology Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Dec 24 Duration Returns 1 Month 8.8% 3 Month 6.1% 6 Month 26.6% 1 Year 33.3% 3 Year 13.5% 5 Year 27.9% 10 Year 15 Year Since launch 21.3% 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 0.67 Yr. Vivek Gedda 1 Apr 24 0.67 Yr. Data below for SBI Technology Opportunities Fund as on 30 Nov 24
Equity Sector Allocation
Sector Value Technology 57.69% Communication Services 24.5% Consumer Cyclical 6.56% Financial Services 2.89% Industrials 2.12% Consumer Defensive 1.12% Health Care 0.71% Asset Allocation
Asset Class Value Cash 1.65% Equity 98.35% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jan 03 | INFY24% ₹1,115 Cr 6,000,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 18 | BHARTIARTL10% ₹472 Cr 2,900,000 Firstsource Solutions Ltd (Technology)
Equity, Since 31 Mar 23 | FSL6% ₹280 Cr 7,645,887 Coforge Ltd (Technology)
Equity, Since 31 Aug 23 | COFORGE6% ₹264 Cr 304,454 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 06 | TCS5% ₹214 Cr 500,000
↓ -200,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Aug 24 | 5433204% ₹184 Cr 6,583,400
↑ 1,583,400 Cognizant Technology Solutions Corp Class A (Technology)
Equity, Since 31 Jul 23 | CTSH4% ₹173 Cr 254,000 Netflix Inc (Communication Services)
Equity, Since 31 Aug 21 | NFLX3% ₹150 Cr 20,000 Microsoft Corp (Technology)
Equity, Since 31 Aug 20 | MSFT3% ₹136 Cr 38,000 PB Fintech Ltd (Financial Services)
Equity, Since 30 Apr 24 | 5433903% ₹133 Cr 700,000 4. TATA Digital India Fund
CAGR/Annualized return of 20.8% 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 (20 Dec 24) ₹54.4543 ↓ -1.42 (-2.55 %) Net Assets (Cr) ₹12,659 on 30 Nov 24 Category Equity - Sectoral AMC Tata Asset Management Limited Rating Risk High Expense Ratio 0 Sharpe Ratio 1.53 Information Ratio 0.66 Alpha Ratio 7.74 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 30 Nov 19 ₹10,000 30 Nov 20 ₹14,034 30 Nov 21 ₹25,767 30 Nov 22 ₹22,715 30 Nov 23 ₹26,174 30 Nov 24 ₹36,503 Returns for TATA Digital India Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Dec 24 Duration Returns 1 Month 5.5% 3 Month 3.1% 6 Month 24.1% 1 Year 34.9% 3 Year 12.8% 5 Year 29% 10 Year 15 Year Since launch 20.8% 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 3.73 Yr. Kapil Malhotra 19 Dec 23 0.95 Yr. Data below for TATA Digital India Fund as on 30 Nov 24
Equity Sector Allocation
Sector Value Technology 74.58% Consumer Cyclical 6.93% Industrials 5.6% Communication Services 4.42% Financial Services 3.47% Asset Allocation
Asset Class Value Cash 5.01% Equity 94.99% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jan 16 | INFY17% ₹2,026 Cr 11,530,857 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jan 16 | TCS10% ₹1,224 Cr 3,083,873
↑ 450,000 Tech Mahindra Ltd (Technology)
Equity, Since 30 Apr 16 | 53275510% ₹1,150 Cr 7,145,933 Wipro Ltd (Technology)
Equity, Since 31 Jul 18 | 5076858% ₹905 Cr 16,393,662
↑ 1,150,000 HCL Technologies Ltd (Technology)
Equity, Since 31 Jan 16 | HCLTECH7% ₹880 Cr 4,983,886 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Oct 22 | 5433206% ₹703 Cr 29,067,000 LTIMindtree Ltd (Technology)
Equity, Since 28 Feb 21 | LTIM5% ₹564 Cr 988,062 Persistent Systems Ltd (Technology)
Equity, Since 31 Jan 16 | PERSISTENT3% ₹408 Cr 759,192 Firstsource Solutions Ltd (Technology)
Equity, Since 30 Nov 21 | FSL3% ₹344 Cr 10,123,112 Sonata Software Ltd (Technology)
Equity, Since 30 Jun 23 | SONATSOFTW3% ₹314 Cr 5,125,514
↑ 445,517 5. Aditya Birla Sun Life Digital India Fund
CAGR/Annualized return of 12.6% 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 (19 Dec 24) ₹193.04 ↓ -2.16 (-1.11 %) Net Assets (Cr) ₹5,333 on 30 Nov 24 Category Equity - Sectoral AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆ Risk High Expense Ratio 1.88 Sharpe Ratio 1 Information Ratio 0.02 Alpha Ratio -5.2 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 30 Nov 19 ₹10,000 30 Nov 20 ₹14,497 30 Nov 21 ₹25,834 30 Nov 22 ₹22,959 30 Nov 23 ₹27,497 30 Nov 24 ₹34,786 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 19 Dec 24 Duration Returns 1 Month 7.5% 3 Month 3.7% 6 Month 21.8% 1 Year 22.6% 3 Year 11% 5 Year 28.6% 10 Year 15 Year Since launch 12.6% 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 10.88 Yr. Dhaval Joshi 21 Nov 22 2.03 Yr. Data below for Aditya Birla Sun Life Digital India Fund as on 30 Nov 24
Equity Sector Allocation
Sector Value Technology 70.96% Communication Services 13.56% Industrials 8.9% Consumer Cyclical 3.28% Financial Services 0.66% Asset Allocation
Asset Class Value Cash 2.64% Equity 97.36% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 30 Apr 05 | INFY22% ₹1,090 Cr 6,201,944
↓ -204,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 05 | TCS10% ₹487 Cr 1,226,555 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Aug 19 | BHARTIARTL9% ₹447 Cr 2,774,697 LTIMindtree Ltd (Technology)
Equity, Since 31 Mar 21 | LTIM7% ₹340 Cr 595,888
↑ 38,135 Tech Mahindra Ltd (Technology)
Equity, Since 31 May 13 | 5327557% ₹335 Cr 2,082,174 HCL Technologies Ltd (Technology)
Equity, Since 31 Dec 10 | HCLTECH5% ₹239 Cr 1,354,682
↓ -83,541 Coforge Ltd (Technology)
Equity, Since 30 Jun 20 | COFORGE4% ₹223 Cr 292,255
↑ 22,000 Cyient Ltd (Industrials)
Equity, Since 31 May 14 | CYIENT4% ₹212 Cr 1,152,664 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 5433203% ₹165 Cr 6,837,942 Sonata Software Ltd (Technology)
Equity, Since 30 Nov 19 | SONATSOFTW3% ₹130 Cr 2,127,683
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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