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MFs investment in bank stocks account for 15.75% of total AUM

After declining for four consecutive months, bank stocks rose in September on value buying and a number of measures announced by RBI

November 06, 2013 10:29 IST | India Infoline News Service
The mutual fund industry’s investment in bank stocks stood at Rs. 268.38 billion as on September 30, 2013, which is 15.75% of their total equity assets under management (AUM) of Rs 1.7 trillion, according to SEBI data.

After declining for four consecutive months, bank stocks rose in September on value buying and a number of measures announced by RBI (Reserve Bank of India).

In August, mutual funds’ investment in bank stocks was Rs. 227.44 billion — the lowest level in four years. However, the investment had increased to Rs. 436.59 billion in December 2012.

In September, the BSE banking index called Bankex gained 6.4%, while the BSE benchmark Sensex comprised of 30 stocks rose 4%.


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