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Fund mangers invest heavily in banking stocks in Feb

At the end of February, mutual fund investments in software stocks stood at 15.2% of their total equity assets under management of Rs 1.89 trillion

March 27, 2014 11:17 IST | India Infoline News Service
Mutual fund managers are betting big on IT stocks. They have increased their exposure to the software companies stocks to a record high of Rs. 28,784 crore in February, according to data from the Securities & Exchange Board of India (SEBI).
At the end of February, mutual fund investments in software stocks stood at 15.2% of their total equity assets under management of Rs 1.89 trillion, SEBI added.
Mutual funds invested Rs. 27,772 crore in software companies in January.
Mutual funds had an exposure of 17.08% to bank stocks in February, the highest among all sectors. Fund managers bought shares worth Rs 32,225 crore in the banking sector.
A mutual fund is a vehicle made up of a pool of funds collected from investors that buys and sells securities such as stocks, bonds and money market instruments.

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