IIFL Mutual Fund AMC has filed papers with SEBI for the launch of IIFL US Technology Fund. This international technology scheme will primarily invest in US –based companies operating in the Internet, Information Technology and related sectors. Being an open-ended equity fund, investors in this scheme would be able to invest in and withdrawn their investment on any business day.
International equity investments will comprise at least 95% of the new scheme’s portfolio while the remaining 5% may be allocated to various fixed income securities in India and the US. The IIFL US Technology Fund will be benchmarked against the MSCI USA Large Cap Information Technology and Internet Marketing Index.
The new scheme will be managed by Prashastha Seth who currently manages the IIFL Capital Enhancer Fund – Series 1 and the IIFL Focused Equity Fund.
Key Details of the IIFL US Technology Fund:
|Minimum Subscription||Rs. 1000|
|Benchmark||CRISIL Money Market Index|
|Fund Manager||Malay Shah|
|Options||Growth, Dividend (Payout/Reinvest)|
Date: 10 AUG 2018