In July, Indian mutual funds increased their cash reserves by Rs 19,000 crore, bringing the total to Rs 1.71 lakh crore. The cash reserves accounted for 4.89% of the total AUM of Rs 35 lakh crore. ICICI Prudential led with the highest cash allocation, followed by SBI and PPFAS Mutual Funds, holding substantial cash to manage redemptions and potential investments.
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