Cash-rich MFs may turn buyers

A slew of funds, including Mrgan Stanley ACE Fund, Birla Sun Life Pure Value Fund, Mirae Asset India Opportunities Fund and Standard Chartered Mid- and Small-Cap Fund closed recently. The NFOs of DSP ML Natural Resources and New Energy fund, which are currently open, close on March 27.  In March, mutual funds turned net sellers, selling equities worth Rs 935.9 crore. In January and February this year, funds bought around Rs 183.5 crore and Rs 100 crore respectively.  But Madhu Kela, head, equity investments, Reliance Mutual Fund, said the fund has started deploying money that it collected from the NFO.