Whalesbook
Toh hua kya hai ki jab market mein toofani tezi thi, Nifty aur Sensex 7-7.5% tak upar gaye, aur mid-cap, small-cap indices toh aur bhi zyaada 12.7% aur 18% tak uchhal gaye... usi dauran mutual funds ne apna jeb garam kar liya hai. Reports bata rahi hain ki April mein in funds ke paas ₹1.99 Lakh Crore cash jama ho gaya tha.
Valuations Ka Tension Hai Bhai!
Is cash stash ke peeche ka reason hai valuations ka tension. Aksar fund managers ko lagta hai ki jab share price bahut zyaada badh jaata hai, toh wahaan se neeche girne ka risk badh jata hai. Data keh raha hai ki 30 out of 53 fund houses ne apne equity funds mein cash badhaya hai. Ye sabhi log zyada invest karne se katra rahe hain aur companies mein paisa laga rahe hain jinka future earnings potential achha ho aur valuations bhi controlled ho, na ki bade risks utha rahe hon.
Kisne Kaha Badhao Cash, Kisne Kaha Ghatao?
Alag alag fund houses ne alag strategy apnai. For example, ICICI Prudential MF ne apna cash holding 3.5% se badha kar 4.11% kar diya. DSP MF ne 4.81% se 6.82% kar diya, aur HDFC MF bhi 5.08% se 5.11% par aa gaya. Toh Quant MF ne toh hadd hi kar di, cash 13.8% se 14.38% tak pahuncha diya!
Lekin kuch funds ne cash kam bhi kiya hai. Jaise PPFAS MF ne apna stake 21.76% se ghatakar 18.7% kar diya, Axis MF ne 9.31% se 7.6%, aur Nippon India MF ne 1.93% se 1.45%.
Basically, cash hold karne se market gire toh bachav ho jata hai, par agar market bhagta hi raha toh ye funds peeche reh sakte hain. Fund managers ko risk aur returns ke beech balance banana hota hai, aur abhi sab zyada caution dikha rahe hain.