Cash levels in equity mutual funds (MFs) have reached almost six per cent in March amid a sharp rise in stock prices. The cash levels are the highest in at least two years. At Rs 39,600 crore at the end of March, these are more than double the levels seen at the end of November 2016, according to a report by Edelweiss. On a year-to-date basis, cash as a percentage of equity assets under management (AUM) has increased 116 basis points, or by Rs 18,800 crore.
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