News From Press BOI Axa Credit Risk Fund writes off IL&FS exposure

BOI Axa Credit Risk Fund writes off IL&FS exposure

Source: The Economic Times Oct 9, 2018

BOI Axa Credit Risk Fund is the first mutual fund scheme to write off its entire outstanding exposure to IL&FS effective October 5, 2018. The scheme had a 6.13% holding in the commercial paper of IL&FS maturing October 29, with a value of Rs 105 crore in its portfolio.

BOI Axa Credit Risk Fund had taken a 25% haircut on its exposure to IL&FS on September 15 as IL&FS defaulted on payment to some banks, insurance companies and mutual funds.

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