FMPs stall, credit risk funds see outflow in April

Reflecting ongoing concerns in the debt market, Association of Mutual Funds of India (Amfi) data released on Thursday shows relatively less money in fixed maturity plans (FMPs) staying within the category. FMPs worth ₹18,029 crore matured in April. Barely a trickle of this money went back into the same category at ₹384 crore.FMPs invest in debt instruments. They have been at the receiving end of India’s ongoing debt crisis. Several FMPs have exposure to risky debt issued by groups such as the Infrastructure Leasing and Financial Services (IL&FS) Ltd, Essel Group and Reliance ADAG.

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