AMCs investments in IT stocks rise 3-month high in June

India Infoline News Service | Mumbai |

AMCs interest in the software stocks rose due to weakening rupee along with good performance by IT companies

Asset management companies (AMCs) exposure to IT (information technology) stocks increased 10.21% to Rs. 184.3 billion at the end of June out of their total equity assets under management (AUM) of Rs 1.8 trillion, according to SEBI (Securities and Exchange Board of India) data.

The AMCs investment in IT companies rose to three-month high in June. In March, the AMCs' total value of mutual fund investments in the IT sector stood at Rs. 191.96 billion.

According to market experts, AMCs interest in the software stocks rose due to weakening rupee along with good performance by IT companies.


 

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