That sentiments on the Street have hit a nadir was evident when the markets ended CY11 with negative returns of 25%. But the nightmare is far from over if the rising cash levels of mutual funds are any indication. Over the past three months or so, open-ended diversified equity funds have raised their cash positions as slackening growth coupled with policy inertia took a toll on the markets. Nearly 19 diversified equity mutual funds have raised their cash position, as percentage of net assets, by 11-30%.
Funds with exposure to real estate and infrastructure segments, such as Tata Growing Economie