Economic TimesLean R·
Funds go on buying spree as cash holdings drop to five-year low
Mumbai: Money managers have slashed cash holdings in equity mutual fund portfolios to the lowest in five years, using recent declines in large private bank and IT stocks as an opportunity to put the money to work.Cash holdings as a percentage of total equity assets under management (AUM) fell to ₹1.33 lakh crore, or 2.43% of total equity AUM of ₹54.92 lakh crore, in June, according to data from Accord Fintech compiled by ETIG Research.As a proportion of total equity assets, this was the lowest …
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