Equity mutual funds' banking sector exposure soars to 20.1%
PTI: Mumbai, Dec 25 2012, 17:49 IST
key short-term lending rate by RBI in January and passage of the Banking (Amendment) Bill, which would pave the way for entry of more players and investments in the sector, have given a further boost," Destimoney Securities MD and CEO Sudip Bandhopadhyay said.
The year 2012 has seen a consistent growth in investment in banking stocks by the industry's equity fund mangers and their exposure have risen from 17.23 per cent of total AUM in January to 20.59 per cent in November. In absolute terms, funds infusion has grown from Rs 32,380 crore to Rs 42,022 crore.
In November, banking was followed by software sector which have attracted Rs 17,745 crore or 8.7 per cent of AUM, consumer non durables (Rs 16,387 crore or 8.03 per cent) and pharma (Rs 5,689 crore or 7.69 per cent).
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