Reliance Mutual Fund held Rs 2,294 crore worth of bonds in the recently downgraded papers of Yes Bank Limited (YBL) and Yes Capital India Pvt. Ltd, shows data from Morningstar India. ICRA, a rating agency, downgraded these papers on May 03. Seven mutual fund schemes from the AMC have an exposure to the bonds of the Yes Bank.
Franklin Templeton AMC, the second in line after Reliance Nippon Life AMC, with Rs 1,083 crore invested in the YBL’s and Yes Capital’s debt securities.
