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Our Bureau

Mumbai, Dec. 10

Bank stocks continued to constitute the largest component of equity assets of mutual funds until October end, SEBI data uploaded on Thursday showed.

This has been the trend at least from August, showed the data, released for the first time by the regulator.

Bank stocks accounted for 14.2 per cent of equity AUM for October; 14.4 for September and 12.7 per cent for August.

The data, made available to SEBI by AMFI, takes into account all equity schemes including ELSS, balanced schemes, and ETFs (except Gold ETFs).

The industrial capital goods asset component has gone up marginally to 7.71 per cent in October from 7.57 per cent in September.

The other major classifications are software which accounts for 7.29 per cent of the AUM, consumer non-durables 7.14 per cent, pharmaceuticals 6.06 per cent, and petroleum products 5.81 per cent of the equity asset base of the mutual fund industry.

Only 1.28 per cent was allocated to derivatives as at October-end.

The percentage of the debt AUM invested in Collateralized Borrowing and Lending Obligation (CBLO) and other money market investments rose in October.

According to fund managers, mutual fund houses were preferring to sit on cash or very short term debt instruments as there were redemptions expected at that time.

CBLO instruments made for 10.74 per cent of the debt AUM at October end, compared with 5.79 in September, while other money market instruments accounted for 3.46 per cent of the AUM of the debt asset base as on October end, compared with 0.97 in September.

The largest debt investments were made in bank certificates of deposit; they constituted 35.2 per cent of debt AUM, down from 41 per cent in September.

More Stories on : Mutual Funds | Banking

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