Mumbai: Edelweiss Mutual Fund has a new fund offer, Edelweiss US Technology Equity Fund of Fund, which will be investing in technology companies in the United States like Netflix, Synopsys, Microsoft, Tesla, Advanced Micro Devices, Analog Devices, ServiceNow, PayPal Holdings and Alphabet (Google's parent).
It will be the first fund of fund or feeder fund that will invest in underlying fund, JP Morgan US Technology Fund, an actively managed 20-year-old fund. The new fund offer opens on February 14 and closes on February 28.
The fund aims to provide access to emerging technologies in early stages of adoption. "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," Edel-weiss Mutual Fund said.
Radhika Gupta, CEO, Edelweiss Asset Management, said,"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 fund will be benchmarked against the Russell 1000 Equal Weighted Technology Index.
