Edelweiss US Technology Equity FoF giving Positive Returns in India
International mutual funds are those types of mutual fund schemes that invest in underlying funds of international origin from various locations geographically and then invest in these companies directly. You can also invest in these foreign companies and themes by investing in these international mutual funds, often known as offshore funds, funds of funds or overseas funds.
An international mutual fund is a type of investment vehicle that takes money from numerous investors and invests it in global markets other than the investor’s domestic country. These funds offer a good opportunity for diversification, allowing investors to profit from the economic progress of several countries. These mutual funds are offered by the Asset Management Companies (AMC).
Edelweiss Mutual Fund AMC has an international scheme for investing in foreign stock—Edelweiss US Technology Equity Funds of Funds. The fund has two options, i.e., Regular and Direct.
The fund is called the Edelweiss US Technology Equity FoF Direct-Growth Fund and the Edelweiss US Technology Equity FoF Regular-Growth Fund.
Both of these schemes seek to provide long-term capital growth by investing predominantly in JPMorgan Funds—US Technology Fund, an equity fund that invests primarily in US technology company stocks such as Apple, Google, Tesla, Amazon, etc., with strong fundamentals.
Key Details of Edelweiss US Technology Equity FoF
- These funds were launched on Mar 05, 2020.
- Both of the schemes are benchmarked against the Russell 1000 Equal Weighted Technology Index fund.
- The fund has two options—regular and direct.
- The minimum initial investment is Rs.5000. And for SIP, the minimum investment is Rs.500.
- There is an exit load of 1% if the units are redeemed/switched out on or before 365 days from the date of allotment. No exit load if the units are redeemed/switched out after 365 days from the date of allotment.
- The expense ratio of the fund is 0.68%.
- The fund is managed by Mr. Bhavesh Jain and Mr. Hardik Verma.
Performance of the Edelweiss US Technology Equity FoF
The Edelweiss US Technology Equity FoF has given 27.61% returns per annum since its inception in the direct plan option. This fund has generated the highest return amongst international funds in the last 3 years. The fund has given positive returns in the Indian market for the last few months.
As you can see in the above chart, both of the schemes—direct and regular—have given good returns in the last few months on the BSE.
