Over the past few months, debt mutual funds have been lowering their allocation to government securities (G-Secs). According to data from the Securities & Exchange Board of India (SEBI), debt mutual funds have invested 12.44% of its cumulative corpus in G-Secs, which amounted to Rs. 1,22,491 crore. The same is considerably lower, compared with September 2015, when the industry had allocated 15.99% of its debt corpus in long-term government paper, putting Rs. 1,32,307 crore into this segment. Total investments hit a high of Rs. 1, 41,935 crore (15.70% of total debt assets) in Nov 2015.