You must have heard this a thousand times: mutual fund investments are subject to market risk. But nothing could have prepared investors in the PGIM India Ultra Short Term Fund for 13 September 2019. That day the fund fell 30.3% following the downgrade of a large chunk of its holdings. Credit defaults are nothing new, but have become very commonplace in the past few years.
In August 2018, the mega default by IL&FS not only affected the credit risk funds but even the safe liquid fun ..
