A fund manager's job is to invest your money according to the objectives of a scheme. That is also why your funds charge a fee for managing your money. But sometimes there are large and sudden withdrawals. Or large inflows. Market regulator SEBI allows mutual funds to hold some cash for such situations. However, some fund managers go one step further. They hold more cash in case they feel stock markets might fall sharply. Such investment decisions are known as cash calls. That works well if your fund manager is right. But if the call goes wrong, the scheme can underperform. Track cash levels of your scheme in monthly factsheets.