6 mutual funds had over Rs 10,000 crore cash in their portfolios in April
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Cash kitty
Mutual funds increased their cash allocation by Rs 12,726 crore to Rs 1.98 lakh crore in April despite a strong market recovery. In March, mutual fund cash holdings had declined to a 16-month low of Rs 1.86 lakh crore, down Rs 24,184 crore, or 12% month-on-month (MoM), from Rs 2.09 lakh crore in February. Here is a detailed break-up (Source: ACE MF).
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SBI Mutual Fund
SBI Mutual Fund, the largest by AUM, had the highest cash allocation at Rs 29,712 crore, or 3.92% of its total assets. The equity AUM was Rs 7.28 lakh crore.
3/8
PPFAS Mutual Fund
PPFAS Mutual Fund had a cash allocation of Rs 27,559 crore, which was 18.71% of the total AUM. The equity AUM was Rs 1.19 lakh crore.
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4/8
HDFC Mutual Fund
HDFC Mutual Fund had a cash allocation in its portfolio of Rs 23,819 crore, which was 5.11% of the total AUM. The equity AUM was Rs 4.42 lakh crore.
5/8
ICICI Prudential Mutual Fund
ICICI Prudential Mutual Fund had a cash allocation of Rs 22,114 crore, which was 4.11% of the total AUM. The equity AUM was Rs 5.16 lakh crore.
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Axis Mutual Fund
Axis Mutual Fund had a cash allocation of Rs 14,870 crore, which was 7.60% of the total AUM. The equity AUM was Rs 1.80 lakh crore.
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Quant Mutual Fund
Quant Mutual Fund had a cash allocation of Rs 12,076 crore, which was 14.38% of the total AUM. The equity AUM was Rs 71,929 crore.
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Why cash?
Fund managers typically keep a portion of their portfolio in cash to meet redemption requests or to deploy in the market when attractive opportunities arise