News From Press Principal Mutual Fund registers 4-6% drop in NAV of three debt schemes overnight

Principal Mutual Fund registers 4-6% drop in NAV of three debt schemes overnight

The asset management company may have been a victim of overall redemption pressure that has been affecting debt mutual funds across the industry

Mint May 2, 2020

Multiple schemes of Principal Mutual Fund recorded sharp fall up to 6% overnight on 30 April as the fund house completely wrote down its exposure to DHFL, which had only been partially written down previously. The highly impacted schemes are Principal Credit Risk Fund, Principal Low Duration Fund, Principal Dynamic Bond Fund and Principal Short Term Debt Fund.

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