Sitting On Cash Worth Rs 2,000 Cr In Equity Funds: SBI MF

Sanjay Sinha, CIO, SBI MF, said that the retail investors' expectations from equity markets are moderate. The fund house has seen a shift in their sectoral stand in its portfolios, he added. At the current level, chances of rupee appreciating are low, Sinha said. They have invested 65% of the Rs 1,850 crore raised through their SBI One India Fund and the rest is in debt, he said. "The One India Fund raised Rs 1,850 crore of which we have invested 65%. We are currently sitting on cash worth Rs 1,500-2,000 crore in equity funds," he said. A strong order book can augment higher prices for construction and engineering stocks, he said. SBI MF is most overweight on financials in its contra fund and it has stayed away from the IT sector, Sinha said.