Mutual fund (MF) houses, with exposure of over Rs 8,000 crore to Zee Group, mostly in their debt schemes, are delaying payments to investors in fixed maturity plans (FMPs). HDFC MF, the country’s largest MF house, has extended the tenure of its FMP by over one year to April 2020.
Kotak MF has informed investors that the fund house will make part-payment on maturity, and the rest will be paid when there is recovery from its exposure to Zee Group and other entities. HDFC FMP, which had close to 10 per cent of its net assets exposed to debt papers of Essel Group entities Edisons ...
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