Are there any sector-specific funds or schemes?

There are some sector specific schemes. Some funds/schemes invest in the securities of only those sectors or industries as specified in the offer documents. It could any sector such as pharmaceuticals, software, fast moving consumer goods (FMCG), petroleum stocks, etc.
In such schemes, the returns are dependent on the performance of the respective sectors/industries.
These sector-specific schemes may give higher returns, but the investment in such schemes is riskier compared to diversified funds. As an investor, you need to be vigilant and keep an eye on the performance of the specific sectors/industries. In such schemes, it becomes extremely important for you to exit at an appropriate time. You may also need to consult an expert regarding these investments