MFs favour Infosys over other technology giants

BSE IT index has been an underperformer when compared to BSE Sensex, over a 1 year period. Infosys over a 1 year period has delivered 1.87 per cent returns and over 3 months the returns for the scrip is negative 10.85 per cent. 

Almost 432 mutual fund schemes have invested in Infosys with Rs 16,279 crores allocated to Infosys alone. Infosys thus, remains the favourite IT pick by all fund managers if we look at the total amount of money invested in the scrip. HDFC equity fund- G with Rs 1,391 crore , is the fund with largest investment in Infosys. When it comes to highest allocation, SBI IT fund regular- D with 37.56 per cent has highest allocation to Infosys. 

TCS is another IT favourite with mutual funds and as many as 322 mutual fund schemes have invested in TCS. The total funds that are invested in TCS are about Rs 5,614 crore. Axis Long Term Equity Fund with Rs 401 crore invested in the scrip is the single largest investment by any mutual fund scheme in TCS. Franklin Infotech Fund - G with an allocation of 24.9 per cent to TCS has maximum allocation in terms of percentage to TCS. 

HCL Technologies Ltd., attracts more investments than even Wipro and Tech Mahindra. As many as 301 mutual fund schemes have invested in HCL Technologies. The total investment of all mutual fund schemes put together is Rs 5,068 crore, in HCL technologies. Reliance Equity opportunity fund- G has invested Rs 348 crore in the scrip. At 10.44 per cent allocation to HCL Technologies, ICICI prudential growth fund -8-DP is one fund with maximum allocation to the scrip.