Mutual fund industry investments: Exposure in IT sector soars to all time high in April
MF's allocation to software stocks stood at Rs 70,773 crore as on April, accounting for 7.37 per cent of their total equity assets under management (AUM) of Rs 9.6 lakh crore, according to data available with the Securities and Exchange Board of India (Sebi).
The mutual fund industry is betting big on IT firms as its equity exposure to the sector climbed to all-time high of nearly Rs 71,000 crore in April amid depreciating rupee and market volatility. Representational Image, source: Reuters