News From Press UTI Mutual Fund receives payments of Rs 20.5 cr from Altico Capital India

UTI Mutual Fund receives payments of Rs 20.5 cr from Altico Capital India

Source: Business Standard Jan 7, 2020

UTI Mutual Fund on Monday said it has received payments to the tune of Rs 20.5 crore from Altico Capital India, a lender to real estate companies. Certain UTI Mutual Fund schemes invested in debt instruments of Altico that were downgraded to below investment grade by credit rating agencies in September 2019. Pursuant to this, UTI Mutual Fund schemes marked down their respective exposures to such instruments by 75 per cent.

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