India, June 3 -- In November 2024, mutual funds held cash equivalent to 5.7 percent of their equity assets under management (AUM). By April 2025, this figure had risen to 7 percent, with total cash levels reaching a record Rs. 2.15 lakh crore.

Among the major fund houses, SBI Mutual Fund holds the highest cash level at Rs. 36,000 crore, followed by ICICI Prudential with Rs. 28,000 crore and HDFC Mutual Fund with Rs. 25,000 crore.

In terms of cash as a percentage of equity assets, PPFAS leads with the highest allocation at 23.60 percent, followed by Motilal Oswal at 17.50 percent and Quant Mutual Fund at 13 percent. Among larger fund houses, SBI holds 10 percent, Axis Mutual Fund 8.60 percent, ICICI Prudential Mutual Fund 8.20 percent, a...