News From Press Lifeline for MFs: PMO suggests steps for resolution of stressed assets

Lifeline for MFs: PMO suggests steps for resolution of stressed assets

Writes to DEA and Sebi for Covid-19 support fund for closed-ended debt schemes

Business Standard Jul 20, 2020

The Prime Minister’s Office (PMO) has suggested regulatory steps and liquidity to help mutual funds (MFs) that have exposure to stressed companies. These include setting up a Covid-19 Support Fund for closed-ended debt schemes. Such schemes do not permit entry and exit for investors till the end of tenure. The move could throw a lifeline to asset management companies (AMCs) that have been plagued by a liquidity crisis, mostly on the debt side, for the past two years, starting with the Infrastructure Leasing & Financial Services fiasco.

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