Mutual funds have reduced their overall cash allocation by Rs 6,240 crore on a monthly basis to Rs 2.17 lakh crore in May. The cash allocation reported in April was Rs 2.23 lakh crore.
The cash allocation of the total AUM dropped to 5.66% in May as compared to 6.12% reported in April. The total equity AUM in May was recorded at Rs 38.33 lakh crore.