The problem that forced Franklin Templeton’s India unit to freeze Rs 31,000 crore hard-earned money of investors may haunt some other fund houses too, data crunching of securities held by debt fund schemes showed.
Debt schemes of some of the top fund houses like Nippon India AMC, HDFC AMC, ICICI Prudential AMC, IDBI MF, DSP MF, LIC MF and Baroda MF hold sub-AAA rated securities in proportions that may not be considered safe, especially after the Franklin fiasco.