Buoyed by the government's push for affordable housing projects under 'Housing for All by 2022' initiative, mutual funds are actively lapping up shares of companies from cement, construction and housing finance companies.
Data on sectoral investments by mutual funds on the Securities and Exchange Board of India (SEBI) reveals that investments in financial sector rose the highest last month.
As on April 30, 2017, the 43-player-strong mutual fund industry had allocated Rs 51,931 crore to finance sector as against Rs 46,798 crore in March 2017, an increase of 11 percent.
Followed by finance sector, mutual funds bet on cement and construction projects. As on April 30, fund managers deployed Rs 21,168 crore in cement sector compared with Rs 18,680 crore invested in March.
