For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Mutual Funds Sit On Highest Cash Levels In 8 Months On Corona Uncertainties

|

During April when benchmark indices had a sigh a relief with a recoup of 20% losses from the recent lows seen in the brutal March sell-off, mutual funds emerged as the biggest sellers in a span of 4 years as per the SEBI data.

Mutual Funds Sit On Highest Cash Levels In 8 Months
 

And that aggressive selling session by mutual funds was witnessed toward the end just following the record level of buying seen in March.

In accordance with the SEBI data, mutual funds in April sold Rs. 7965.5 crore, the highest since March 2016 when it offloaded Rs. 10,194.5 crore. Funds sold massively in sectors such as media and entertainment, auto, metals, construction and paper during the month after indices showed resilience from recent lows, thereby providing them the chance to make quick exit.

Nonetheless in March when the benchmark indices fell sharply, mutual funds bought heavily into equity funds worth Rs. 33,708.54 crore.

As per the data from Value Research, mutual funds have been increasing their cash levels in open-ended equity funds. Fund managers are now taking a cautious stance in the wake of the coronavirus-led uncertainties and had the highest cash levels in eight months in April.

GoodReturns.in

Read more about: mutual funds sebi
Story first published: Tuesday, May 19, 2020, 7:13 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more