Mutual funds have reduced their cash holding by over Rs 10,000 crore to Rs 1.87 lakh crore in May against Rs 1.98 lakh crore in April. The cash holding as a percentage of total assets was recorded at 4.24% in the same period.
The total equity AUM went up by Rs 46,274 crore on monthly basis and was recorded at Rs 44.25 lakh crore in May 2026 from Rs 43.79 lakh crore in April.
There are around 50 mutual fund houses of which around six fund houses had over Rs 10,000 crore cash in their portfolios in May. PPFAS Mutual Fund had the highest cash allocation in its portfolio of Rs 26,104 crore which was 17.67% of the total AUM and the fund house had Rs 1.21 lakh crore equity AUM.
PPFAS Mutual Fund in its monthly release said we have about 14.77% in cash holdings, debt & money market instruments and arbitrage positions which can be deployed in long term investments at appropriate levels.
SBI Mutual Fund, the largest fund house based on the assets managed, had Rs 25,913 crore cash in its portfolio which was 3.43% of the total AUM. This was followed by HDFC Mutual Fund which had Rs 24,488 crore cash in its portfolio.
ICICI Prudential Mutual Fund and Axis Mutual Fund had Rs 18,539 crore and Rs 13,338 crore cash in their respective portfolios in the said time period. The last one to hold over Rs 10,000 crore cash was Quant Mutual Fund and the fund house had 12,182 crore cash in its portfolio.
Nippon India Mutual Fund had Rs 5,386 crore cash in its portfolio which was 1.17% of the total assets. Mirae Asset Mutual Fund had nearly Rs 1,832 crore cash in its portfolio which was 1.09% of the total assets.
Mahindra Manulife Mutual Fund was the last one to have over Rs 1,000 crore cash in its portfolio in the said period. The fund house had Rs 1,025 crore cash which was 3.66% of the total assets.
Sunil Singhania led Abakkus Mutual Fund had Rs 574.29 crore cash which was 10.07% of the total AUM. Capitalmind Mutual Fund and JioBlackRock Mutual Fund had Rs 34 crore and Rs 29.86 crore cash respectively in their portfolios.
Zerodha Mutual Fund, Angel One Mutual Fund and Choice Mutual Fund had Rs 2.97 crore, Rs 0.31 crore and Rs 0.30 crore cash respectively in their portfolios.
Based on the percentage of total assets, PPFAS Mutual Fund had 17.67% cash in its portfolio as a percentage of its total AUM. This was followed by Quant Mutual Fund whose cash holding was 13.89% of the total AUM.
SBI Mutual Fund had the highest equity AUM of Rs 7.28 lakh crore, followed by ICICI Prudential Mutual Fund which had an equity AUM of Rs 5.23 lakh crore as of May 31, 2026.
SIFs cash holding
At present there are eight SIFs, of which SIF managed by ICICI Prudential Mutual Fund had the highest cash holding of Rs 409 crore in May, followed by SIF managed by Quant Mutual Fund which had Rs 207 crore cash in its portfolio.
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Arudha SIF and WSIF had Rs 20.83 crore and Rs 10.07 crore cash respectively in their portfolios in the said time period.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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