Mutual Fund exposure to bank stocks surges to Rs 63,000 crore in October
New Delhi: Mutual fund managers raised their exposure in bank stocks to an all-time high of nearly Rs 63,000 crore in October this year amid a rally in the stock market. The move comes after fund managers dropped their investment levels in bank stocks in September, after raising it for seven consecutive months.
According to the latest data available with Securities and Exchange Board of India, MF investments in bank stocks as on October 31 surged to Rs 62,718 crore, accounting for 19.91 per cent of the total equity assets under management (AUMs) of Rs 3.15 lakh crore. The previous high was in August this year when investment in the sector climbed to Rs 56,625 crore. In comparison, the MF industry's exposure to banking sector stood at Rs 55,398 crore in September this year.
MFs had been raising their exposure to banking shares since January. Software was the second most preferred sector with MFs last m...
Comments
Post a Comment
You are requested to mentioned your full name with email id while commenting.