Mutual Funds are piling up banking and financial stocks
DSIJ Intelligence / 25 Apr 2017
More additions are being made by fund managers in the banking and financial sector stocks than any other sector.
As of March 31 the mutual funds held equities worth Rs 10.23 lakh crore as per Association of Mutual Fund in India's (AMFI) data.
Even as the Nifty marks its record highs in today's trade and Nifty Bank makes an all-time high for itself, mutual funds continue to park funds in banking and financial companies.
More additions are being made by fund managers in the banking and financial sector stocks than any other sector.
As of March 31 the mutual funds held equities worth Rs 10.23 lakh crore as per Association of Mutual Fund in India's (AMFI) data.
The asset value held by mutual funds rose nearly 20 per cent in three months ended March, even as the Bank Nifty and Nifty touched all-time high for themselves.
The year-to-date (YTD) performance has been impressive for the markets with benchmark index, Nifty gaining almost 12 per cent during the period.
Out of the 43 sectors invested in by mutual funds, the top 10 sectors account for more than 70 per cent of the total funds allocated to equities.
Software companies saw drop in exposure followed by pharmaceuticals and automobiles.
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