The debt funds and liquid scheme of Taurus Mutual Fund fell 7-12 per cent in a day following the downgrading of the troubled Ballarpur Industries LtdBSE -0.93 % (Bilt) by India Ratings and Research (Ind-Ra) on Wednesday. Four debt schemes of Taurus Mutual Fund had nearly Rs 110 crore invested in commercial paper issued by Bilt when the downgrade was announced.
The hardest hit was the Taurus Dynamic Income Fund and Taurus Ultra Short Term Bond Fund (see table). Bilt was the top holding in both funds.
