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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 ₹522.171
↑ 2.15 ₹1,845 -3 12 34.1 13 26.3 51.1 ICICI Prudential Technology Fund Growth ₹205.39
↑ 1.32 ₹13,495 -0.1 20.8 31.6 7.5 29 27.5 SBI Technology Opportunities Fund Growth ₹212.251
↑ 1.24 ₹4,304 0.7 21.3 31.8 10.3 26.2 24.8 TATA Digital India Fund Growth ₹51.6089
↑ 0.39 ₹11,835 1.5 23.3 37.1 10.2 28.3 31.9 Aditya Birla Sun Life Digital India Fund Growth ₹179.56
↑ 1.01 ₹5,046 -0.9 19 23.9 9 27.1 35.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 19 Nov 24 1. Franklin India Technology Fund
CAGR/Annualized return of 19.4% 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 Nov 24) ₹522.171 ↑ 2.15 (0.41 %) Net Assets (Cr) ₹1,845 on 31 Oct 24 Category Equity - Sectoral AMC Franklin Templeton Asst Mgmt(IND)Pvt Ltd Rating ☆ Risk High Expense Ratio 2.2 Sharpe Ratio 1.74 Information Ratio 0.56 Alpha Ratio 10.44 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 Oct 19 ₹10,000 31 Oct 20 ₹14,200 31 Oct 21 ₹21,851 31 Oct 22 ₹17,926 31 Oct 23 ₹22,777 31 Oct 24 ₹32,892 Returns for Franklin India Technology Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -3.5% 3 Month -3% 6 Month 12% 1 Year 34.1% 3 Year 13% 5 Year 26.3% 10 Year 15 Year Since launch 19.4% 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 0.08 Yr. R. Janakiraman 1 Dec 23 0.92 Yr. Sandeep Manam 18 Oct 21 3.04 Yr. Data below for Franklin India Technology Fund as on 31 Oct 24
Equity Sector Allocation
Sector Value Technology 64.2% Communication Services 16.64% Industrials 4.76% Consumer Cyclical 4.69% Financial Services 3.39% Health Care 0.03% Asset Allocation
Asset Class Value Cash 5.04% Equity 94.9% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 29 Feb 12 | INFY21% ₹407 Cr 2,171,408 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Aug 04 | TCS17% ₹326 Cr 764,559 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 18 | BHARTIARTL11% ₹205 Cr 1,201,730 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 5433204% ₹76 Cr 2,799,010 HCL Technologies Ltd (Technology)
Equity, Since 30 Jun 14 | HCLTECH4% ₹70 Cr 387,170 TeamLease Services Ltd (Industrials)
Equity, Since 31 Dec 22 | TEAMLEASE4% ₹69 Cr 219,208 Tech Mahindra Ltd (Technology)
Equity, Since 28 Feb 14 | 5327553% ₹63 Cr 402,443 PB Fintech Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5433903% ₹63 Cr 390,695
↑ 41,855 Franklin Technology I Acc USD
Investment Fund | -3% ₹57 Cr 95,810 IndiaMART InterMESH Ltd (Communication Services)
Equity, Since 31 Aug 20 | INDIAMART2% ₹47 Cr 158,622 2. ICICI Prudential Technology Fund
CAGR/Annualized return of 13% 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 Nov 24) ₹205.39 ↑ 1.32 (0.65 %) Net Assets (Cr) ₹13,495 on 31 Oct 24 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk High Expense Ratio 1.96 Sharpe Ratio 1.42 Information Ratio -0.25 Alpha Ratio 1.4 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 Oct 19 ₹10,000 31 Oct 20 ₹14,455 31 Oct 21 ₹27,433 31 Oct 22 ₹23,558 31 Oct 23 ₹25,781 31 Oct 24 ₹35,421 Returns for ICICI Prudential Technology Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -3.4% 3 Month -0.1% 6 Month 20.8% 1 Year 31.6% 3 Year 7.5% 5 Year 29% 10 Year 15 Year Since launch 13% 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 4.5 Yr. Sharmila D’mello 30 Jun 22 2.34 Yr. Data below for ICICI Prudential Technology Fund as on 31 Oct 24
Equity Sector Allocation
Sector Value Technology 70.19% Communication Services 16.28% Consumer Cyclical 4.87% Industrials 3.52% Financial Services 0.2% Consumer Defensive 0.19% Health Care 0% Asset Allocation
Asset Class Value Cash 4.52% Equity 95.48% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 30 Apr 08 | INFY23% ₹3,297 Cr 17,580,044
↓ -46,179 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Sep 19 | TCS11% ₹1,594 Cr 3,734,724
↑ 138,572 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL9% ₹1,222 Cr 7,148,806
↓ -240,000 LTIMindtree Ltd (Technology)
Equity, Since 31 Jul 16 | LTIM6% ₹801 Cr 1,282,771
↑ 22,250 HCL Technologies Ltd (Technology)
Equity, Since 30 Sep 20 | HCLTECH5% ₹745 Cr 4,149,450
↓ -137,838 Tech Mahindra Ltd (Technology)
Equity, Since 31 Oct 16 | 5327555% ₹677 Cr 4,295,218
↓ -100,000 Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services)
Equity, Since 31 Oct 21 | 8901573% ₹477 Cr 3,645,340
↑ 396,222 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Aug 22 | 5433203% ₹392 Cr 14,358,409 Wipro Ltd (Technology)
Equity, Since 30 Sep 19 | 5076853% ₹392 Cr 7,245,122
↓ -600,000 Persistent Systems Ltd (Technology)
Equity, Since 31 May 20 | PERSISTENT2% ₹333 Cr 610,530
↓ -41,410 3. SBI Technology Opportunities Fund
CAGR/Annualized return of 20.6% 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 Nov 24) ₹212.251 ↑ 1.24 (0.59 %) Net Assets (Cr) ₹4,304 on 31 Oct 24 Category Equity - Sectoral AMC SBI Funds Management Private Limited Rating ☆ Risk High Expense Ratio 1.99 Sharpe Ratio 1.49 Information Ratio 0.4 Alpha Ratio 2.7 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 Oct 19 ₹10,000 31 Oct 20 ₹12,999 31 Oct 21 ₹23,142 31 Oct 22 ₹21,221 31 Oct 23 ₹23,471 31 Oct 24 ₹31,975 Returns for SBI Technology Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -2.2% 3 Month 0.7% 6 Month 21.3% 1 Year 31.8% 3 Year 10.3% 5 Year 26.2% 10 Year 15 Year Since launch 20.6% 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 0.59 Yr. Vivek Gedda 1 Apr 24 0.59 Yr. Data below for SBI Technology Opportunities Fund as on 31 Oct 24
Equity Sector Allocation
Sector Value Technology 59.6% Communication Services 26.14% Industrials 4.43% Consumer Cyclical 4.4% Financial Services 2.56% Consumer Defensive 1.25% Health Care 0.74% Asset Allocation
Asset Class Value Cash 0.88% Equity 99.12% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jan 03 | INFY25% ₹1,125 Cr 6,000,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 18 | BHARTIARTL11% ₹496 Cr 2,900,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 06 | TCS7% ₹299 Cr 700,000 Firstsource Solutions Ltd (Technology)
Equity, Since 31 Mar 23 | FSL5% ₹238 Cr 7,645,887 Coforge Ltd (Technology)
Equity, Since 31 Aug 23 | COFORGE5% ₹214 Cr 304,454 Cognizant Technology Solutions Corp Class A (Technology)
Equity, Since 31 Jul 23 | CTSH4% ₹164 Cr 254,000 Tech Mahindra Ltd (Technology)
Equity, Since 31 May 22 | 5327554% ₹158 Cr 1,000,000 IndiaMART InterMESH Ltd (Communication Services)
Equity, Since 31 Jul 23 | INDIAMART3% ₹139 Cr 470,000 Microsoft Corp (Technology)
Equity, Since 31 Aug 20 | MSFT3% ₹137 Cr 38,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Aug 24 | 5433203% ₹137 Cr 5,000,000 4. TATA Digital India Fund
CAGR/Annualized return of 20.3% 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 (19 Nov 24) ₹51.6089 ↑ 0.39 (0.77 %) Net Assets (Cr) ₹11,835 on 31 Oct 24 Category Equity - Sectoral AMC Tata Asset Management Limited Rating Risk High Expense Ratio 0 Sharpe Ratio 1.63 Information Ratio 0.81 Alpha Ratio 10.81 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 Oct 19 ₹10,000 31 Oct 20 ₹13,379 31 Oct 21 ₹24,791 31 Oct 22 ₹21,368 31 Oct 23 ₹23,581 31 Oct 24 ₹33,817 Returns for TATA Digital India Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -1.4% 3 Month 1.5% 6 Month 23.3% 1 Year 37.1% 3 Year 10.2% 5 Year 28.3% 10 Year 15 Year Since launch 20.3% 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 3.65 Yr. Kapil Malhotra 19 Dec 23 0.87 Yr. Data below for TATA Digital India Fund as on 31 Oct 24
Equity Sector Allocation
Sector Value Technology 73.64% Consumer Cyclical 7.29% Industrials 6.07% Communication Services 4.72% Financial Services 3.05% Asset Allocation
Asset Class Value Cash 5.22% Equity 94.78% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jan 16 | INFY18% ₹2,163 Cr 11,530,857
↓ -1,719,741 Tech Mahindra Ltd (Technology)
Equity, Since 30 Apr 16 | 5327559% ₹1,127 Cr 7,145,933 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jan 16 | TCS9% ₹1,124 Cr 2,633,873
↓ -300,000 HCL Technologies Ltd (Technology)
Equity, Since 31 Jan 16 | HCLTECH7% ₹895 Cr 4,983,886 Wipro Ltd (Technology)
Equity, Since 31 Jul 18 | 5076857% ₹825 Cr 15,243,662
↑ 3,852,046 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Oct 22 | 5433207% ₹794 Cr 29,067,000 LTIMindtree Ltd (Technology)
Equity, Since 28 Feb 21 | LTIM5% ₹617 Cr 988,062
↓ -200,000 Persistent Systems Ltd (Technology)
Equity, Since 31 Jan 16 | PERSISTENT3% ₹414 Cr 759,192 Firstsource Solutions Ltd (Technology)
Equity, Since 30 Nov 21 | FSL3% ₹315 Cr 10,123,112 Cyient Ltd (Industrials)
Equity, Since 28 Feb 21 | CYIENT3% ₹307 Cr 1,630,043 5. Aditya Birla Sun Life Digital India Fund
CAGR/Annualized return of 12.3% 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 Nov 24) ₹179.56 ↑ 1.01 (0.57 %) Net Assets (Cr) ₹5,046 on 31 Oct 24 Category Equity - Sectoral AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆ Risk High Expense Ratio 1.88 Sharpe Ratio 1.11 Information Ratio 0.1 Alpha Ratio -4.35 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 Oct 19 ₹10,000 31 Oct 20 ₹14,030 31 Oct 21 ₹25,026 31 Oct 22 ₹22,008 31 Oct 23 ₹25,596 31 Oct 24 ₹33,286 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 Nov 24 Duration Returns 1 Month -3.1% 3 Month -0.9% 6 Month 19% 1 Year 23.9% 3 Year 9% 5 Year 27.1% 10 Year 15 Year Since launch 12.3% 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 10.8 Yr. Dhaval Joshi 21 Nov 22 1.95 Yr. Data below for Aditya Birla Sun Life Digital India Fund as on 31 Oct 24
Equity Sector Allocation
Sector Value Technology 71.47% Communication Services 13.86% Industrials 9.08% Consumer Cyclical 3.55% Financial Services 0.53% Asset Allocation
Asset Class Value Cash 1.51% Equity 98.49% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 30 Apr 05 | INFY23% ₹1,201 Cr 6,405,944
↓ -50,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 05 | TCS10% ₹524 Cr 1,226,555 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Aug 19 | BHARTIARTL9% ₹474 Cr 2,774,697
↓ -100,000 LTIMindtree Ltd (Technology)
Equity, Since 31 Mar 21 | LTIM7% ₹348 Cr 557,753
↑ 30,000 Tech Mahindra Ltd (Technology)
Equity, Since 31 May 13 | 5327556% ₹328 Cr 2,082,174
↑ 102,662 HCL Technologies Ltd (Technology)
Equity, Since 31 Dec 10 | HCLTECH5% ₹258 Cr 1,438,223
↓ -133,323 Cyient Ltd (Industrials)
Equity, Since 31 May 14 | CYIENT4% ₹217 Cr 1,152,664 Coforge Ltd (Technology)
Equity, Since 30 Jun 20 | COFORGE4% ₹190 Cr 270,255
↑ 12,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 5433204% ₹187 Cr 6,837,942
↑ 700,000 Firstsource Solutions Ltd (Technology)
Equity, Since 31 Aug 23 | FSL3% ₹136 Cr 4,363,900
↑ 139,365
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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