Monday, 27 February 2017

Mutual funds' exposure to bank stocks hit record Rs 1.16 lakh cr in January

Mutual funds' allocation for bank stocks hit a record high of Rs 1.16 lakh crore in end-January, primarily on account of cheaper valuations. In comparison, fund managers had allocated Rs 78,644 crore for bank shares in the year-ago period. "We could be getting close to the bottom of the NPAs (non-performing assets) cycle, valuations were not that expensive, hence funds would have preferred buying into the sector," Quantum Mutual Fund Associate Fund Manager Equity Nilesh Shetty said.

In percentage terms, exposure to banking stocks was at 20.91 per cent of equity assets under management last month as against 20.84 per cent in December-end. Overall, deployment of equity funds in bank stocks stood at Rs 1,16,002 crore at the end of January, compared with Rs 1,06,203 crore in the preceding month, as per the latest data available from the Securities and Exchange Board of India (Sebi).

Intraday Calls/Intraday Tips and FREE TRIALS everything in on click here >> One Missed call on @9644405056

No comments:

Post a Comment