New Delhi, Nov. 13 -- Parag Parikh Flexi Cap Fund, India's largest actively managed equity mutual fund, had assets under management (AUM) of Rs.1,46,785 crore as of October 2026. Over the past year, the fund has drawn attention for poor performance and maintaining relatively high cash holdings, which peaked at around 25%.

However, its latest monthly portfolio disclosure for October 2026 shows a sharp reduction in its cash allocation to 8.78% (including cash, debt & money market instruments and arbitrage positions).

The move follows comments made by Rajeev Thakkar, Chief Investment Officer - Equity and Director at PPFAS Mutual Fund, in his August 2026 investor letter. Addressing concerns about the fund's performance and high cash allocat...