Edelweiss Mutual Fund has launched Edelweiss US Technology Equity Fund of Fund (FOF). The NFO will be open from February 14, 2020 to February 28, 2020.
The fund aims to provide access to emerging technologies, which are in early stages of adoption based in US. This is the first time that Indian investors will be able to take exposure to these emerging technologies across different sectors, claims the fund house.
The underlying fund, JP Morgan US Technology Fund is an actively managed fund with a 20+ year track record. It invests in technologies which are in early stages of adoption and are growing at a fast pace compared to technologies that have matured and are in their growth cycle, said the fund house.
A few of the top holdings of the underlying fund include Netflix, Synopsys, Microsoft, Tesla, Advanced Micro Devices, Analog Devices, ServiceNow, PayPal Holdings and Alphabet (Google's Parent company).
In a press release, Radhika Gupta, CEO, Edelweiss MF said, "Technology is a very broad theme and operates in multiple sectors. Most of these companies draw their revenues from across the world, hence have limited country specific risks. This fund enables investors to be a part of some mega trends in technology and get access to expert research of the JPMorgan Investment Team. ‘’
