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MFs invest Rs55,000 crore in banking scrips

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

July 15, 2014 10:10 IST | India Infoline News Service
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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