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Fund managers shy away from IT stocks

Fund houses investment in IT sector declines to Rs. 22,986 crore in May

July 01, 2014 9:33 IST | India Infoline News Service
Asset management companies investment in IT (information technology) segment declined to Rs. 22,986 crore at the end of May. This drop is the lowest in the past nine months since August 2013.
AMCs investment in IT stocks was at Rs. 22,986 crore as on May 31, compromising 10.25% of the total equity assets under management of Rs. 2.25 trillion, according to the SEBI (Securities and Exchange Board of India) data.
The total value of the mutual fund investments stood at Rs. 20,284 crore in August 2013. The investment of fund houses in software stocks was at Rs. 24,438 crore in April this year, the data added.

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