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The top 20 equity mutual funds hold 5% in cash, says a report released by Motilal Oswal.
The report considers only equity growth schemes and calculates the cash component by deducting equity AUM (including foreign equity) from the total AUM.
The report covers the top 20 MFs in terms of equity exposure across all MF schemes including balanced and other schemes. The total value of these assets is Rs. 21.30 lakh crore as on March 2023.
A fund-wise analysis shows that PPFAS MF has the highest cash holding of 13.3%, followed by Axis MF which holds 10.4% in cash. Notably, these are the only two funds where the cash holding exceeds 10%.
SBI MF, Sundaram MF, ICICI Prudential MF, PGIM India MF, HDFC MF and Bandhan MF have the next highest proportion of assets in cash at 9.0%, 7.5%, 6.1%, 5.5%, 5.2% and 5.1% respectively.
The other 12 mutual funds have less than 5% in cash, with Mirae Asset MF’s holding being the least at 0.6%.
|
Mutual Fund |
Cash Holding % |
Mar 23 Value (Rs. in crore) |
|
PPFAS |
13.3 |
23,000 |
|
Axis |
10.4 |
1,28,500 |
|
SBI |
9.0 |
4,55,000 |
|
Sundaram |
7.5 |
31,400 |
|
ICICI Prudential |
6.1 |
2,48,100 |
|
PGIM India |
5.5 |
16,500 |
|
HDFC |
5.2 |
2,19,400 |
|
Bandhan |
5.1 |
27,500 |
|
Tata |
4.7 |
51,200 |
|
Canara Robeco |
4.2 |
51,900 |
|
Franklin Templeton |
4.1 |
50,800 |
|
Kotak |
3.7 |
1,37,800 |
|
Motilal Oswal |
3.6 |
19,800 |
|
UTI |
3.4 |
1,59,800 |
|
DSP |
3.4 |
64,700 |
|
Nippon India |
3.1 |
1,63,500 |
|
HSBC |
3.1 |
42,900 |
|
Invesco |
2.5 |
28,700 |
|
Aditya Birla Sun Life |
2.3 |
1,08,300 |
|
Mirae Asset |
0.6 |
1,01,300 |
|
Total |
5.0 |
21,30,100 |
Notes:
* Equity value represents the equity exposure of all MF schemes (including balanced and other schemes)
* Cash is derived by deducting equity AUM (Including foreign equity) from total AUM; only equity growth schemes have been considered for cash
* HSBC MF equity value for previous month and year includes L&T MF value for comparability
