Edelweiss NFO opening on Feb 14th; one can invest from Rs 5,000 onwards

Edelweiss Asset Management Limited, a Group company of Edelweiss, announced on 12th February about the launch of a New Fund Offer (NFO) of the Edelweiss US Technology Equity Fund of Fund (FOF). The NFO will be open from February 14, 2020 to February 28, 2020 and will re-open for continuous sale & repurchase on or before March 16, 2020. The initial investment in the FOF is Rs 5000 per application & in multiples of Rs 1 subsequently. The FOF will be benchmarked against the Russell 1000 Equal Weighted Technology Index.

Speaking on the Edelweiss NFO Radhika Gupta, CEO, Edelweiss Asset Management Limited 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."

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The fund is designed with the objective of providing access to emerging technologies that are in the early stages of adoption based in the US. This is the first time that Indian investors will be able to take exposure to these emerging technologies across different sectors, through the underlying fund.

The underlying fund, JP Morgan US Technology Fund is an actively managed fund with a 20+ year track record. It invests in technologies that are in the early stages of adoption and are growing at a fast pace compared to technologies that have matured and are in their growth cycle. The underlying fund has a multi-cap strategy and hence, can outperform the popular large-cap based indices in the long run.

In this theme, there are companies that serve various consumers, using technology and catering to varied needs. 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).