NEW DELHI: The mutual fund industry is betting big on software companies as its equity exposure to the sector climbed to a fresh all-time high of about Rs 33,000 crore at the end of October.

This also marks the fifth consecutive rise in mutual fund (MF) industry's exposure to software stocks.

Mutual fund is an investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.

The funds' investment in software stocks stood at Rs 32,838 crore as on 31 October, 2014, accounting for 10.43 per cent of their total equity assets under management (AUM) of Rs 3.15 lakh crore, according to data available with the Securities and Exchange Board of India (Sebi).

At current levels, the MF industry has the highest exposure to software sector since August 2009. Data is not available for sector-wise exposure before August 2009, when the equity funds had deployed Rs 11,913 crore (6.71 per cent) in software shares.

The previous high was in September this year when investment in the sector rose to Rs 31,834 crore.

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