HDFC Mutual Fund takes Rs 500 crore of Essel group exposures on books

Besides the four FMPs of HDFC Mutual Fund that matured in April, seven FMPs exposed to the two Essel group firms mature before Sept

HDFC Asset Management Company (AMC) has offered exits to investors of some fixed-maturity plans (FMPs) by transferring Rs 500 crore worth of their exposures to Essel group firms on to its own books.
 
This liquidity arrangement would be applicable for FMPs that matured in April or will be maturing as long as the 'standstill' agreement with Essel group firms is in force.
 
According to a disclosure made by the AMC, "The liquidity arrangement may involve an aggregate outlay not exceeding Rs 500 crore and will be put in place shortly... Provision of such liquidity arrangement will entail acquisition