Mutual funds increased their cash holdings significantly in 2025, with total portfolio cash reaching ₹2.01 lakh crore by November, as per an analysis by ETMutualFunds. This rise coincides with the entry of 5 new asset management companies, signalling active changes in the industry.
Between December 2024 and November 2025, cash allocation by mutual funds rose by ₹14,539 crore, from ₹1.87 lakh crore to ₹2.01 lakh crore. Out of 43 existing AMCs in December 2024, 17 increased their cash positions during this period.
PPFAS Mutual Fund led with an increase of ₹10,744 crore, raising its cash from ₹18,247 crore to ₹28,991 crore. Quant Mutual Fund followed with an increment of ₹6,071 crore, ending at ₹12,082 crore in November 2025.
HDFC Mutual Fund added ₹5,039 crore, while ICICI Prudential Mutual Fund increased holdings by ₹2,427 crore. Helios Mutual Fund raised cash by ₹146 crore, and NJ Mutual Fund, the smallest gainer, increased by ₹21 lakh to ₹13.05 crore.
Read More: SIP Inflows Surpass ₹3 Trillion for the 1st Time in 2025!
Axis Mutual Fund led the list of 26 AMCs that lowered cash positions, reducing by ₹6,393 crore to ₹8,659 crore. SBI Mutual Fund decreased by ₹1,515 crore to ₹30,252 crore. Canara Robeco Mutual Fund and Sundaram Mutual Fund trimmed their holdings by ₹502 crore and ₹470 crore, respectively.
Nippon India Mutual Fund, Mirae Asset Mutual Fund, and Kotak Mutual Fund reduced holdings by ₹435 crore, ₹429 crore, and ₹422 crore, respectively.
In 2025, 5 new AMCs entered the mutual fund landscape: Angel One Mutual Fund, Capitalmind Mutual Fund, JioBlackRock Mutual Fund, The Wealth Company Mutual Fund, and Unifi Mutual Fund.
Among them, JioBlackRock held the highest cash at ₹62.48 crore, followed by Capitalmind with ₹22.43 crore. Angel One Mutual Fund reported the lowest, with ₹0.08 crore.
The mutual fund sector in 2025 saw both expansion and strategic shifts in cash allocation. While some fund houses significantly boosted their cash reserves, others trimmed their positions. The addition of new AMCs also contributed to overall market dynamics.
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.
Published on: Dec 30, 2025, 5:30 PM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
