New Delhi, May 1 -- Cash levels in actively managed equity mutual fund schemes have climbed to their highest in over six years, signalling a cautious stance even as fund managers await the right entry points.

The three-month average cash level in active equity mutual fund schemes stood at 6.2% in March, the highest in over six years, and up from 5.7% in January and 6.0% in February, show data compiled by Elara Capital. The last time cash positions were this elevated was in November 2018, at 6.3%, and in November and December 2011, at 6.4%, the data showed.

Cash holding levels typically average 3-4%.

Mahesh Patil, chief investment officer at Aditya Birla Sun Life AMC, said a rough calculation suggested that active equity schemes managed...