.jpg "Equity MF Cash Holdings Fall to 19 Month Low of Rs 1.84 Lakh Cr")
Equity mutual fund (MF) schemes' cash holdings dipped to a 19-month low in June as fund houses remained buying into Indian stocks even though the war issue had been put on a backburner and oil prices had declined.
Key Highlights
- Equity mutual fund cash holdings fell to a 19-month low of Rs 1.84 lakh crore in June.
- SBI Mutual Fund led the decline, with cash balance dropping to Rs 22,084 crore from Rs 25,914 crore.
Cash Holdings of Top Mutual Funds (Rs Crore)
|
AMC |
Jun-26 Cash |
% of AUM |
May-26 Cash |
% of AUM |
|---|---|---|---|---|
|
SBI MF |
22,083.9 |
2.9 |
25,913.9 |
3.4 |
|
ICICI Pru MF |
20,041.1 |
3.6 |
18,539.7 |
3.4 |
|
HDFC MF |
23,987.5 |
4.9 |
24,488.3 |
5.2 |
|
Axis MF |
12,960.5 |
6.4 |
13,338.6 |
6.8 |
|
PPFAS MF |
24,107.2 |
16.1 |
26,104.3 |
17.7 |
|
Quant MF |
14,007.3 |
15.7 |
12,182.1 |
13.9 |
|
DSP MF |
8,376.1 |
6.4 |
8,624.4 |
6.9 |
|
Nippon India MF |
7,195.6 |
1.5 |
5,386.2 |
1.2 |
Also Read: Equity Mutual Fund Inflows Rise 26.48% to Rs 28,973.41 Crore in June
Cash Balance Drops to Rs 1.84 Lakh Crore
Cash holdings across equity mutual fund schemes stood at Rs 1.84 lakh crore in June - the lowest level since November 2024, when they were at Rs 1.80 lakh crore. The June cash balance declined 2.3% from Rs .88 lakh crore in May. As a percentage of total equity AUM, cash holdings stood at around 4% during the month, down from 4.9% at the end of December 2025, according to ACE Equities data.
31 of 54 Fund Houses Trim Cash Holdings
In the month, 54 mutual fund houses saw their cash holdings down, with 31 increasing the holdings as well. The Indian equity markets have shown a strong performance in June, with the Sensex and Nifty indices registering approximately 2% gains. The overall market also moved higher, the BSE 150 MidCap index up 1% while the BSE 250 SmallCap index up 4%.
SBI Mutual Fund Leads the Cash Deployment
SBI Mutual Fund reported the biggest drop in cash to Rs 22,084 crore in June compared to Rs 25,914 crore a month ago. PPFAS Mutual Fund and Motilal Oswal Mutual Fund were next with cash holdings dropping to Rs 24,108 crore and Rs 2,532 crore from Rs 26,105 crore and Rs 4,435 crore, respectively. Bandhan Mutual Fund, HDFC Mutual Fund, Axis Mutual Fund, Kotak Mutual Fund, DSP Mutual Fund and other funds that shed a significant amount of cash also cut back on cash holdings.
Quant, Nippon India, and ICICI Prudential Raise Cash Levels
Within the group of fund houses that added to cash, Quant Mutual Fund has built up its cash stockpile to Rs 14,008 crore in June from Rs 12,183 crore in May. Other funds that saw a rise in cash were Nippon India Mutual Fund, which raised its cash holdings to Rs 7,195 crore from Rs 5,387 crore a month ago, and ICICI Prudential Mutual Fund, which increased its holdings to Rs 20,042 crore from Rs 18,540 crore a month ago.
