“Cash Awaiting Settlement" refers to the funds in the process of transactions. It is shown for the funds in the period from the time contributions are received until an investment product(s) is purchased and transaction is settled, or the period from the settlement date of the sold product to the settlement date of the purchased product when switching. As the name indicates, “Cash Awaiting Settlement" refers to the funds that are waiting for the completion of settlement for the purchase of investment products.
If you have uninstructed individual assets in your account, they are also shown as "cash awaiting settlement".