Mutual funds bet high on bank, IT stocks
17/11/2014 17:40
Stock market rally has seen the mutual funds increasing their exposure to banking and software stocks. As per the data available with the market regulator Securities and Exchange Board of India (Sebi), the mutual funds’ investments in bank stocks surged to Rs 62,718 crore as on October 31, accounting for 19.91 per cent of the total equity assets under management (AUMs) while that in the software stocks stood at Rs 32,838 crore as on October 31, 2014, accounting for 10.43 per cent of their total equity assets under management (AUM) of Rs 3.15 lakh crore. MFs kept increasing their exposure to banking shares since January, while software emerged as the second most preferred sector with MFs in October followed by Pharma (Rs. 21,845 crore), Auto (Rs. 20,282 crore) and Finance (Rs. 17,843 crore).
17/11/2014 17:40
Stock market rally has seen the mutual funds increasing their exposure to banking and software stocks. As per the data available with the market regulator Securities and Exchange Board of India (Sebi), the mutual funds’ investments in bank stocks surged to Rs 62,718 crore as on October 31, accounting for 19.91 per cent of the total equity assets under management (AUMs) while that in the software stocks stood at Rs 32,838 crore as on October 31, 2014, accounting for 10.43 per cent of their total equity assets under management (AUM) of Rs 3.15 lakh crore. MFs kept increasing their exposure to banking shares since January, while software emerged as the second most preferred sector with MFs in October followed by Pharma (Rs. 21,845 crore), Auto (Rs. 20,282 crore) and Finance (Rs. 17,843 crore).
