Nifty IT Index has given 17% returns in 10 years. Bandhan AMC brings a new fund to track it

financialexpress.com:

Bandhan Mutual Fund has launched Bandhan Nifty IT Index Fund, which is an open-ended equity scheme tracking Nifty IT Index. In a statement, the AMC said the scheme will 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 E-Commerce,” the AMC said.

The New Fund Offer for Bandhan Nifty IT Index Fund has opened today (Friday, August 18, 2023) and it will close on Monday, August 28, 2023. The AMC said that investment in the Bandhan Nifty IT Index Fund can be made through licensed mutual fund distributors and online platforms, as well as, directly on the AMC’s website.

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“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% annual return over the last 10 years and outperforming major sectors,” said Vishal Kapoor, CEO, of Bandhan AMC.

“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,” he added.

According to the statement, the IT sector is now well established with several companies offering relatively higher