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  • News From Press Altico downgrade: MFs to create segragated portfolio

    Altico downgrade: MFs to create segragated portfolio

    Source: Financial Express Sep 16, 2019

    UTI Mutual Fund has decided to create a segregated portfolio in UTI Credit Risk Fund, after CARE Ratings downgraded debt instruments of Altico Capital India to ‘B’, which is ‘below investment grade’.

    Reliance Nippon Life Asset Management said that they propose to create segregated portfolio of securities of Altico Capital India held in Reliance Ultra Short Duration Fund. The data from Value Research show that mutual funds have an exposure of Rs 537.67 crore in Altico Capital India as of August 2019. Both fund houses with an exposure to Altico will have to mark down their investments in their respective funds.

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