No redemption seen in equity funds: Reliance AMC

Vikrant Gugnani, CEO of Reliance Capital Asset Management or Reliance AMC has said that it has maintained 40% cash in Reliance Natural Resources Fund. The current cash position is at about 40%, Gugnani added. He will remain cautious about the market in the short-term. The company is sitting on cash worth Rs 7,500-8000 crore; average cash with schemes around 20-25%, he said. He believes that certain stocks are overvalued since Dec 2007. There are no redemption seen in equity funds, he said.

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