MFs’ banking exposure soars to 20.1%

The mutual fund industry is betting big on banking space with investments worth more than Rs 42,000 crore in bank stocks – taking sector’s exposure to the highest level in more than three years. According to  Sebi, the MF industry’s investment in bank stocks stood at Rs 42,022 crore at the end of November, which was 20.59 per cent of the industry’s total equity assets under management of Rs 2.04 lakh crore.

Besides banking, the exposure to none of the sectors is in double digits, with software being the 2nd best with an 8.7 per cent exposure.