This also marks the sixth consecutive monthly rise in the mutual funds’ exposure to bank stocks. Banking continues to be the most preferred sector with the fund managers, given the high weightage attached to the index. Further, analysts expect that bank stocks will continue to be in focus in coming months as markets regulator Sebi last month decided to ease its takeover norms for restructuring listed companies with stressed assets. Bank is followed by finance stocks, wherein equity fund managers’ deployment was at Rs 53,186 crore, software (Rs 43,949 crore) consumer non-durables (Rs 43,733 crore) and auto (Rs 42,405 crore). Mutual funds are investment vehicles made up of a pool of funds collected from a large number of investors.

Source: Mint July 27, 2017 10:30 UTC