Equity mutual fund (MF) schemes remain flush with cash despite having deployed a record sum over the past five weeks, amid a 10 per cent downturn in the benchmark National Stock Exchange Nifty.
As of the end of October, equity schemes from the top 20 fund houses were holding 5.5 per cent of their portfolios in cash, compared to 6 per cent in September, according to a report by Motilal Oswal Financial Services.
PPFAS, Quant, and SBI were the top three in terms of cash holdings. These 20 fund houses manage around ₹28.5 trillion through their equity schemes. At 5.5 per cent, the total cash holding amounts to ₹1.6 trillion. Assuming a similar cash percentage industry-wide, the absolute cash holding for active equity schemes would be around ₹1.7 trillion.
This story is from the November 15, 2024 edition of Business Standard.
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This story is from the November 15, 2024 edition of Business Standard.
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