MFs exposure to IT stocks hits all-time high in Sept

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Mutual fund investments in software companies is spiking new heights as the equity exposure to the sector touched fresh all-time high of around Rs 32,000 crore at the end of September, said the media report.

This also marks the fourth consecutive rise in mutual fund (MF) industry's exposure to software stocks.

The mutual funds' investment in software stocks stood at Rs 31,834 crore as on September 30, 2014, accounting for 10.83 per cent of their total equity assets under management (AUM) of Rs 2.94 lakh crore, according to data available with the Securities and Exchange Board of India (Sebi).

According to the analysts, the MFs have been showing interest in software stocks since the beginning of the year amid rising equity market.

Besides, mutual fund managers raised their exposure in bank stocks to an all-time high of over Rs 55,398 crore in September this year, which is the highest among all the sectors.

Among others, MFs have an exposure of Rs 21,908 crore in pharma space, followed by auto (Rs 18,892 crore) and finance (Rs 16,358 crore).

Story first published: Monday, October 27, 2014, 12:30 [IST]
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