 "Mutual funds, Stock markets, liquidity")
Wealthy investors are shunning illiquid investments in the present uncertain environment, where cash is king.
Market-linked debentures (MLDs) and credit risk funds — two products to have grown popular in the past two years — have fallen out of favour since the outbreak. MLDs are close-ended structured products — debt or equity-linked — which come with a lock-in of 2-3 years. For equity-linked structures, the underlying can be an index such as the Nifty, or a basket of stocks. The pay-off for investors could be in the form of a fixed coupon or participation rate. Debt MLDs typically pay a
