Mutual Fund exposure to bank stocks swells in November
22/12/2014 07:22
The mutual fund industry is betting big on banking stocks as its equity exposure to the sector climbed to an all-time high of over Rs 70,000 crore in November amid the market rally, said the media report. This also marks the second consecutive rise in MF industry's exposure to banking stocks. MFs collect funds from various investors for investing in securities such as stocks, bonds, money market instruments and similar assets, added the media report. Their investments in banking stocks stood at Rs 70,575 crore as on November 30, 2014, accounting for 21.23 per cent of their total equity assets under management (AUM) of Rs 3.32 lakh crore, according to data available with the Securities and Exchange Board of India (Sebi). The previous high was October this year when investment in the sector surged to Rs 62,718 crore, added the media report. MFs had been raising their exposure to banking shares since January but their investment level in the sector dropped in September. The industry again increased the exposure in October and the momentum continued in November. The fund infusion has grown from Rs 30,339 crore in January to Rs 70,575 crore in November.
22/12/2014 07:22
The mutual fund industry is betting big on banking stocks as its equity exposure to the sector climbed to an all-time high of over Rs 70,000 crore in November amid the market rally, said the media report. This also marks the second consecutive rise in MF industry's exposure to banking stocks. MFs collect funds from various investors for investing in securities such as stocks, bonds, money market instruments and similar assets, added the media report. Their investments in banking stocks stood at Rs 70,575 crore as on November 30, 2014, accounting for 21.23 per cent of their total equity assets under management (AUM) of Rs 3.32 lakh crore, according to data available with the Securities and Exchange Board of India (Sebi). The previous high was October this year when investment in the sector surged to Rs 62,718 crore, added the media report. MFs had been raising their exposure to banking shares since January but their investment level in the sector dropped in September. The industry again increased the exposure in October and the momentum continued in November. The fund infusion has grown from Rs 30,339 crore in January to Rs 70,575 crore in November.
