The mutual fund industry's equity exposure to the IT sector climbed to a fresh all-time high of around 32,000 crore rupees at the end of September. This also marks the fourth consecutive rise in mutual fund (MF) industry's exposure to the software stocks.According to data available with SEBI, the funds' investment in software stocks stood at 31,834 crore rupees as on September 30, 2014, accounting for 10.8 percent of their total equity assets under management of 2.9 lakh crore rupees.Besides, mutual funds also raised their exposure in bank stocks to an all-time high of over 55,398 crore rupees in September, which is the highest among all the sectors.