LIC Mutual Fund said that it has received the first tranche of Rs. 200 crore from IL&FS Securities Services on September 11.
“The balance amount is expected on the respective maturity dates in September,” it said, adding that the amount is less than 2 per cent of its liquid fund portfolio as of August 31, 2018.
“LIC MF Liquid Fund does not have any exposure to IL&FS Financial Services,” the company further said, adding that it only has exposure to IL&FS Securities Services. The company has been acquired by IndusInd Bank, and has already received approval from the RBI for the same recently.
