MFs invest Rs55,000 crore in banking scrips

India Infoline News Service | Mumbai |

Fund managers exposure to banking scrips increased to Rs. 54,746 crore comprising 21.5% of their total equity AUMs of Rs.2.55 trillion as on 30 June

Mutual fund houses have been consistently investing in banking stocks in the year 2014. Their investments has increased to 21.5% of the total AUM (assets under management) in June from 16.6% in January, according to SEBI (Securities and Exchange Board of India) data.
Fund managers exposure to banking scrips increased to Rs. 54,746 crore comprising 21.5% of their total equity AUMs of Rs.2.55 trillion as on 30 June from Rs. 30,339 crore in January.
During the period, the BSE Bankex surged over 3% in June this year, while the benchmark Sensex rose 5%.
After banking, software is the second most preferred sector with MFs having exposure of Rs26,595 crore, followed by pharmaceuticals (Rs16,834 crore) and finance (Rs13,736 crore). 
 

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