Background: ICICI Asset Management Company Ltd manages ICICI prudential Mutual Fund. A joint venture between Prudence Plc, UK's leading insurance company and ICICI Bank Ltd. India's premier financial institution. ICICI Prudential Mutual Fund house has Rs.50369.93 crore assets under management at the end of September 2007.
ICICI Pru Technology Fund (G) is an open-ended sectoral scheme launched in January 2000. The objective of the scheme is to generate long-term capital appreciation by investing in equity/ equity related securities of technology intensive companies. The minimum investment amount is Rs 5000 and in multiples of Rs 500 thereafter. The unit NAV of the scheme was Rs.14.53 as on 30 October 2007.
Portfolio: The total net assets of the scheme decreased by Rs.8.27 crore to Rs.144.70 crore in September 2007.
ICICI Pru Technology Fund (G) took fresh exposure to one stock in September 2007. The scheme has purchased 30,029 units (0.98%) of Patni Computer Systems in September 2007.
The scheme completely exited from Infosys Technologies by selling 12,204 units (1.48%) in September 2007.
Sector-wise, the scheme took no fresh exposure in September 2007.
Sector-wise, the scheme has not exited from any sector in September 2007.
The scheme had highest exposure to Deccan Chronicle Holdings with 7.32 lakh units (10.19% of portfolio) followed by Allied Digital Services with 2.83 lakh units (7.41%) and Tata Consultancy Services with 93,164 units (6.80%) among others in September 2007.
It reduced its exposure to Nucleus Software Exports by selling 80,981 units to 1.19 lakh units (by 1.91%), Firstsource Solutions by selling 1.79 lakh units to 2.21 lakh units (1.03%) among others in September 2007.
Sector-wise, the scheme had highest exposure to Computers - Software - Medium / Small at 53.86% (52.01% in August 2007) followed by Computers - Software - Large at 14.02% (14.96%) and Entertainment / Electronic Media Software at 10.19% (13.81%) among others in September 2007.
Sector wise, the scheme had reduced exposure from Entertainment / Electronic Media Software to 3.62% (by 26.21%) in September 2007.
Performance: The scheme underperformed the category average over all time periods. It has underperformed the Sensex over all time periods.
Over three-month period ended as on 30 October 2007, the scheme posted negative returns underperforming the category average. It underperformed the Sensex during the same period.
Wednesday, October 31, 2007
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