Second wave of Covid-19 hangs over MFs' expanding investing universe

The stocks mutual funds had invested in had risen almost to pre-pandemic levels in March

Mutual funds invested in fewer stocks as of March 2021 than they did a year ago, despite equity assets going up by a few trillion rupees.

There has been a rising trend after the number touched a 31-month low of 796 scrips in July 2020, show numbers from Prime Database. The market recovery and decline in Covid-19 cases later saw that number rise again. It touched 813 as of March 2021. This is almost at levels seen before the pandemic. Interestingly, this is despite the value of these holdings by over 25 per cent from February, the month before the