Mutual funds slashes cash allocation by Rs 13,000 crore in June; PPFAS and Quant MF join trend
have reduced their overall
cash allocation
by Rs 13,000 crore on a monthly basis to Rs 2.04 lakh crore and the cash allocation as a percentage of total AUM also went down to 5.08% in June.
PPFAS Mutual Fund
and
Quant Mutual Fund
have reduced their cash allocation in the said period.
The overall cash allocation in May was recorded at Rs 2.17 lakh crore and the total cash allocation as a percentage of total AUM was 5.66% in May. The total equity AUM in June was recorded at Rs 40.19 lakh crore.
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Among the 45 fund houses now, four had over Rs 20,000 cash in their portfolios in the said period.
SBI Mutual Fund
, the largest fund house, had the highest cash allocation in its portfolio in June of Rs 34,654 crore which was 4.68% of the total AUM.
ICICI Prudential Mutual Fund had Rs 28,196 crore cash in its portfolio in June, followed by
HDFC Mutual Fund
which had Rs 27,012 crore cash in its portfolio. PPFAS Mutual Fund had Rs 22,778 crore cash in its portfolio which was 19.65% of the total AUM in June against 21.62% in May.
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PPFAS in its monthly release said that, 'We have about 21.85% in cash holdings, debt & money market instruments and arbitrage positions which can be deployed in long term investments at appropriate levels.'
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Motilal Oswal Mutual Fund and Nippon India Mutual Fund had Rs 8,994 crore and Rs 7,960 crore cash in their respective portfolios.
Quant Mutual Fund had Rs 6,531 crore cash in its portfolio which was 7.25% of the total AUM in June. This allocation was 10.35% in May and the fund house had Rs 9,028 crore cash in its portfolio.
Mirae Asset Mutual Fund had Rs 2,600 crore cash in its portfolio in June which was 1.61% of the total AUM.
Around 21 fund houses had less than Rs 1,000 crore cash in their portfolios of which 10 had less than Rs 100 crore cash. Trust Mutual Fund and Samco Mutual Fund had Rs 90.09 crore and Rs 62.14 crore cash respectively in their portfolios.
Unifi Mutual Fund which is a new entrant in the mutual fund industry had Rs 29.74 crore cash in its portfolio.
Zerodha Mutual Fund and Angel One Mutual Fund had Rs 0.69 crore and Rs 0.55 crore cash respectively in their portfolios.
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Based on cash as a percentage of AUM, Unifi Mutual Fund had the 25.46% cash as a percentage of AUM because of a small base as the fund house is a new entrant in the mutual fund industry. PPFAS Mutual Fund had 19.65% cash as a percentage of AUM, followed by WhiteOak Capital Mutual Fund had 12.65% cash as a percentage of AUM.
Fund managers are allowed to keep a part of their portfolio in cash to meet events like redemptions or make investments when they see a possible opportunity in the market.
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