Edelweiss introduces US tech company to the Indian market:
Edelweiss Asset Management Company plans to introduce an MF scheme with the technology used in the US market. Also, the Edelweiss sustained into the JP Morgan US Technology Fund.
The NFO subscription period will start on 14th Feb and it will end on 28th Feb 2020. It was an open-ended fund. From the last 5 years, the JP Morgan compound annual growth rate (CAGR) is 19.21% in dollar terms. It also has powerful rises in US tech stocks.
Edelweiss declared, In future AI, OTT, Cloud Computing, Autonomous Cars, and 5G networks join in big trends market. It was the best time to introduce these technologies.
The Synopsys Inc, Advanced Micro Devices and Microsoft are major 3 holding companies of JP Morgan Fund. From the last 2 years, the maximum growth in tech companies and it also has huge growth in production.
The International Funds declare its NAV in rupees and India, it can be bought and sold like an ordinary mutual fund. Investing in them not treated as a remittance under the Liberalised Remittance Scheme and hence would not be subject to the 5% Tax Collected at Source in the investor’s hands.
Gains in international funds will impose the tax in the same manner as debt funds. They will impose tax at slab rate if held for less than 3 years and at 20% with indexation if held for longer.