Most equity mutual funds are run by managers that are handcuffed by the rules of the fund as spelled out by the prospectus. There are only extreme conditions that would allow the fund managers to raise cash within the portfolio. Very few, if any. Check with your funds and find out what their thresholds are. Remember, the market is the most overvalued in history.
Mutual funds can limit the size of sales.
Anything above that, they have the right to send stock certificates from within the portfolio. And they don't have to send the certificates within the 3 day settlement that the distribution of the normal proceeds of a sale would be required to meet. Once the seller finally gets the certificates, the seller is then responsible to sell the certificates. That could impact individuals directly. No warranty or guarantee is given regarding the accuracy, reliability, veracity, or completeness of the information provided here or by following links from this page, and under no circumstances will the author or service provider be liable for any loss including but not limited to direct, indirect, incidental, special or consequential damages caused by using the information, or as a result of the risks inherent in the stock market.