6 Mutual Fund AMCs Hold Over ₹10,000 Crore in Cash Portfolios as of March 2026 Amid Market Volatility

In March 2026, amid volatile market conditions, 6 asset management companies (AMCs) strategically maintained over ₹10,000 crore in cash within their portfolios.  

As benchmark indices fell by 11%, mutual funds increased equity deployment, capitalising on the market correction. 

Details of AMCs' Cash Holdings 

The collective cash holdings of mutual funds decreased by 12% month-on-month to ₹1,86,000 crore in March, marking a 16-month low, from ₹2,09,000 crore in February.  

Despite this reduction, 6 AMCs maintained substantial cash reserves. 

PPFAS Mutual Fund led the way with a cash allocation of ₹29,327 crore, accounting for 21.76% of its total assets under management (AUM).  

The Parag Parikh Flexi Cap Fund had ₹28,698 crore, while the Parag Parikh ELSS Tax Saver Fund maintained ₹614 crore. The Parag Parikh Large Cap Fund had ₹14.52 crore in cash. 

SBI Mutual Fund, the largest fund house by managed assets, held ₹27,463 crore in cash, representing 3.98% of its total AUM.  

HDFC Mutual Fund had ₹21,352 crore, which was 5.08% of its total AUM, supported by an equity AUM of ₹3,99,000 crore as of March 2026. 

Other AMCs with Significant Cash Reserves 

ICICI Prudential Mutual Fund's cash reserves were ₹17,289 crore, making up 3.53% of its total AUM.  

Axis Mutual Fund followed closely with ₹16,469 crore in cash, or 9.31% of its total AUM, while Quant Mutual Fund maintained ₹10,004 crore, constituting 13.82% of its AUM. 

Read More: Mutual Fund AUM Falls 10.1% in March 2026 Even as Retail Flows Stay Strong! 

Conclusion 

The substantial cash holdings by these 6 AMCs illustrate strategic financial planning amid turbulent market conditions in March 2026. The deployment and reservation of funds by these firms show a balanced approach to asset management and financial strategy during fluctuating market scenarios. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.