Mutual funds reduces overall cash allocation by Rs 6,200 crore to Rs 2.17 lakh crore in May

Mutual funds reduced cash holdings to Rs 2.17 lakh crore in May.

Cash-to-AUM ratio fell from 6.12% in April to 5.66%.

SBI MF had highest cash (Rs 34,747 crore); PPFAS had highest % (21.6%).

Fund managers say cash levels are normal, with active equity deployment.