Bandhan Mutual Fund Launches Nifty IT Index Fund
Bandhan Mutual Fund has launched Bandhan Nifty IT Index Fund, an open-ended equity scheme tracking the Nifty IT index, with an aim to capture the growth potential of the Indian Information Technology (IT) sector.
The IT sector is a significant catalyst for the Indian economy, facilitating revolutionary changes across different segments such as banking, finance, education, healthcare, communication and connectivity, entertainment, automobile, and ecommerce.
The new fund will provide investors with a convenient, cost-effective route to benefit from the vast opportunities in this sector over the long term. It will open on 18 August, and close on 28 August.
Investment in the Bandhan Nifty IT Index Fund can be made through licensed mutual fund distributors and online platforms.
Vishal Kapoor, CEO, Bandhan AMC said, “The Indian IT sector is at the forefront of global innovation, establishing itself as a technology powerhouse and a leading player in the global IT landscape. Over the years, the Nifty IT Index has generated healthy returns for its investors delivering a handsome 17 per cent annual return over the last 10 years and outperforming major sectors. Moreover, the valuation of the Nifty IT Index has eased over the last 18 months and is now closer to its historical average. Our latest offering, the Bandhan Nifty IT Index Fund combines the relative stability, quality and reasonable return visibility that this exciting sector offers.”
The IT sector is now well established with several companies offering relatively higher return on equity and steady dividend payouts. Investors may also note that companies in the IT sector score favourably on Environment, Social, and Governance (ESG) factors, with five out of the top 10 ESG companies being from this sector.
