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Mutual Fund Review: ICICI PRUDENTIAL TECHNOLOGY FUND

Investment Strategy:

The fund invests in IT and IT sector oriented stocks across market capitalisation but focuses mainly on the large cap and small cap stocks. In the past three years, large cap stocks on an average account for about 52% of the portfolio, midcap stocks account for about 2% of the portfolio, small cap stocks account for about 39% of the portfolio and cash holdings account for 4.4% of the portfolio. The portfolio also has exposure to derivatives and the average exposure is 3.4%

Investments in Indian software companies account for about 85% of the portfolio on an average; electronic components sector has an average exposure 2.3%.

Asset Size:

The fund's AUM is around Rs. 117 crore as at 31 March 2011.

Performance:

This fund is the best performing IT fund in India and also the best performing IT fund on our platform over a 5 year period (31 December 2005 to 31 December 2010).

As of 31 December 2010, this fund has outperformed its benchmark, BSE IT Index across all periods except for the 3 year period. Over a 1 year period, this fund has given 32.88% while its benchmark has given 28.3% and has given annualized returns of 15.1% over a 5 year period in comparison to 12.8% of the benchmark over the same 5 year period. 
 
 

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