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HDFC MF takes additional 13% haircut on exposure to IL&FS group's SPV

The total markdown now stands at 50 per cent, in line with guidelines laid down by Amfi for below-investment grade papers

BS Reporter 

ICICI Pru had overtaken HDFC MF — which had occupied the top slot since October 2011 — in the quarter ending March 2016

HDFC Mutual Fund has taken an additional 13 per cent haircut on its exposure to IL&FS group's special purpose vehicle, the Hazaribagh Ranchi Expressway.
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The total markdown now stands at 50 per cent, in line with guidelines laid down by Amfi for below-investment grade papers. These guidelines were drawn after Sebi stated that MFs should follow uniform valuation methodology for papers downgraded to below-investment grade.
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First Published: Fri, May 10 2019. 00:15 IST
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