CASH HOLDING in portfolios of India's equity schemes is up 80 basis points (bps) in the month of January. Last month, amid volatile trade, equity mutual funds were sitting on a cash pile of Rs 12,000 crore. This was 3.6% of their total equity asset under management (AUM). Cash holding was less than 3% in December 2014.
The country's largest fund houses have the highest cash levels in terms of absolute value as well as percentage term.
For instance, ICICI Prudential Mutual Fund – Indians second largest fund house – has cash of Rs 264.4 crore which translates into 6.7% of its equity AUM. Franklin Templeton is next at 5.6% while Birla Sun Life MF and UTI MF have between 4% and 4.5% of their equity AUM in cash.
HDFC MF – the largest fund house with total assets of over Rs 1.5 lakh crore – however, has only 1.57% of equity assets in cash.
Currently, there are a little over 400 equity related funds managing assets worth Rs 3.41 lakh crore.
The country's largest fund houses have the highest cash levels in terms of absolute value as well as percentage term.
For instance, ICICI Prudential Mutual Fund – Indians second largest fund house – has cash of Rs 264.4 crore which translates into 6.7% of its equity AUM. Franklin Templeton is next at 5.6% while Birla Sun Life MF and UTI MF have between 4% and 4.5% of their equity AUM in cash.
HDFC MF – the largest fund house with total assets of over Rs 1.5 lakh crore – however, has only 1.57% of equity assets in cash.
Currently, there are a little over 400 equity related funds managing assets worth Rs 3.41 lakh crore.
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