Mutual funds slash IT exposure sharply from Dec 2024 peak. Mutual funds with over 20% IT allocation in December 2024 now hold single-digit exposure, ACE MF data shows. Samco Flexi Cap saw the steepest fall — from 27.47% to 3.28%. Average IT allocation across top 10 IT-heavy funds dropped from 20.84% to 9.51% by September 2026, driven by AI disruption fears and sector underperformance.