First Fund of Fund in India investing in emerging technology companies in US
- Invests in disruptive technologies in their early stages of adoption, across sectors
- The underlying fund has a track record of 20+ years
Kolkata, February 12, 2020: Edelweiss Asset Management Limited, a Group company of Edelweiss, today announced the launch of a New Fund Offer 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 fund is designed with the objective of providing 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, 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 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. 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).
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. ‘’
The initial investment in the FOF is Rs. 5000/- per application & in multiples of Re 1/- subsequently. The FOF will be benchmarked against the Russell 1000 Equal Weighted Technology Index.
About Edelweiss Asset Management Limited (EAML)
EAML is part of the Investment & Advisory line of Business of the Edelweiss Group. EAML is one of the fastest growing and young AMCs in India. It offers a robust platform to a diversified client base, across domestic and global geographies.
The Mutual Fund product suite of the company encompasses the entire risk return spectrum and is designed to offer the best opportunity for investment growth in Indian & global asset classes. EAML also provides world class knowledge platforms for its partners and investors to keep them updated. The company provides the best digital experience to investors and partners through continuous innovation and cutting edge technology. For more information please visit: www.edelweissmf.com
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Statutory Disclaimer: MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.
The Edelweiss Group is one of India's leading diversified financial services companies, providing a broad range of financial products and services to a substantial and diversified client base, that includes corporations, institutions and individuals. Edelweiss' products and services span multiple asset classes and consumer segments, across domestic and global geographies. Its businesses are broadly divided into Credit Business (Retail Credit comprises of Retail Mortgages, SME and Business Loans; Corporate Credit), Advisory Business (Wealth Management & Capital Markets, Asset Management, Asset Reconstruction) and Insurance (Life and General Insurance). Edelweiss Group has a pan India presence with a global footprint, extending across geographies, with offices in New York, Mauritius, Dubai, Singapore, Hong Kong and UK. For more information please visit: https://www.edelweissfin.com
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