Business Standard

Anil Ambani firms spell risk for MFs after 'below investment grade' rating

Reliance MF held exposure of Rs 1,083 crore to long-term non-convertible debentures (NCDs) of RHFL



Jash Kriplani Mumbai
Mutual fund (MF) investors could once again be facing mark-to-market losses on their debt investments, following multi-notch downgrades of debt papers of Reliance Home Finance (RHFL) and Reliance Commercial Finance (RCFL).

Reliance MF, which had exposures to the two entities, said, “Till the maturity of the instruments is in line with the Securities and Exchange Board of India (Sebi) regulations, there will be a mark-to-market valuation impact on the above exposure, basis revised valuation provided by independent valuation agencies, with corresponding impact on NAVs of schemes holding these investments.”

Reliance MF, a joint venture between Nippon Life and the Anil Ambani group

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First Published: Apr 29 2019 | 2:35 AM IST

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