Several leading mutual fund houses in India continued to maintain sizeable cash positions in their portfolios during November, according to data from an ACE Mutual Fund report. Five asset management companies (AMCs), including SBI Mutual Fund and PPFAS Mutual Fund, reported cash holdings exceeding ₹10,000 crore during the month.
Cash Positions of Leading AMCs
HDFC Mutual Fund reported the highest cash balance among fund houses in November, holding ₹30,287 crore, which accounted for 6.55 percent of its total assets under management (AUM). SBI Mutual Fund followed with cash holdings of ₹30,252 crore, representing 3.90 percent of its total AUM.
PPFAS Mutual Fund held ₹28,991 crore in cash, forming 21.37 percent of its total AUM of approximately ₹1.06 lakh crore. ICICI Prudential Mutual Fund also maintained a substantial liquidity position with ₹25,904 crore in cash, equivalent to 5.02 percent of its AUM of ₹4.90 lakh crore.
Quant Mutual Fund reported cash holdings of ₹12,082 crore, which constituted 13.91 percent of its total AUM of ₹74,772 crore.
Cash Holdings as a Share of AUM
When assessed by cash holdings as a proportion of AUM, PPFAS Mutual Fund ranked highest with 21.37 percent, followed by Samco Mutual Fund at 19.03 percent. Quant Mutual Fund held 13.91 percent of its AUM in cash, while WhiteOak Capital Mutual Fund reported a cash allocation of 11.71 percent.
Industry-Wide Cash Allocation Trends
At the industry level, total cash holdings across mutual funds declined by ₹7,149 crore in November. Aggregate cash balances stood at ₹2.01 lakh crore during the month, compared with ₹2.09 lakh crore in October. Cash as a percentage of total industry AUM also moderated to 4.68 percent from 4.94 percent in the previous month.
New Entrant Overview
JioBlackRock Mutual Fund, a relatively new participant in the mutual fund industry, reported cash holdings of ₹62.48 crore in November. This represented 2.18 percent of its total AUM, reflecting its current scale of operations.
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