Cash holdings of PMS schemes dip in April as markets rebound\, data shows

Cash holdings of PMS schemes dip in April as markets rebound, data shows

Cash levels rose in March as markets tanked, prompting some of the value-oriented strategies to hold anywhere between 20-65% cash that month

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PMS schemes | Cash levels of fund managers

Ashley Coutinho 

investment, investors, stocks, market, shares, shareholders, MF, savings
More than two-thirds of cash was reinvested as valuations became attractive after a spate of corrections in March

In April, more than a third of the 122 PMS schemes held more than 10 per cent in cash, data from PMS Bazaar shows.

Cash levels rose in March as markets tanked, prompting some of the value-oriented strategies to hold anywhere between 20-65 per cent cash that month.

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Cash levels as a percentage of overall holding dipped in April as markets rebounded. More than two-thirds of cash was reinvested as valuations became attractive after a spate of corrections in March.

Cash holdings for 13 PMS schemes, however, rose in April over the previous month. “This could be due to fresh investments by investors who wanted to deploy more cash to take advantage of the prevailing situation and fund managers playing it safe in anticipation of a further fall,” said PMS Bazaar in a note.
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First Published: Wed, May 27 2020. 01:09 IST