Top-performing India fund sounds caution on stocks, raises cash

Pricey valuations and fading hopes of robust earnings growth are leaving India’s equity market short of investable ideas for a money manager at a top-performing fund. The dicey environment has pushed Abhishek Singh, who oversees over $2 billion of assets at DSP Mutual Fund, to increase cash holdings in a large-cap fund to nearly 13% as of March-end, from about 5% a year ago.

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