Mutual funds’ cash holding as a percentage of their total equity portfolio fell to the lowest in four months in October, as fund managers pumped money into a spate of public offerings.
Also, while certain sectors seemed overheated, investors hunted for other beaten-down sectors where long-term value was seen emerging.
According to data from Morningstar, mutual fund cash holding at 5.5% in October is the lowest since 5.2% in June.
