You are here: Home » Companies » News
Business Standard

UTI Mutual Fund receives payments of Rs 20.5 cr from Altico Capital India

Certain UTI Mutual Fund schemes invested in debt instruments of Altico that were downgraded to below investment grade by credit rating agencies in September 2019

Press Trust of India  |  New Delhi 

UTI MF
Unit Trust of India building in Mujmbai

on Monday said it has received payments to the tune of Rs 20.5 crore from India, a lender to real estate

Certain schemes invested in debt instruments of Altico that were downgraded to below investment grade by credit rating agencies in September 2019. Pursuant to this, schemes marked down their respective exposures to such instruments by 75 per cent.

Altico Capital, on December 30, distributed available cash to lenders in proportion to their respective overdue aggregate principal amount outstanding and along with applicable interest, the fund house said in a statement.

In connection with this, certain UTI Mutual Fund schemes received an aggregate amount of Rs 20.50 crore from and such schemes accounted for their respective portion of such amount, it added.

UTI Credit Risk Fund had an exposure of about Rs 200 crore in debt security of

UTI MF's sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.

Last month, UTI MF filed draft papers with markets regulator Sebi to float an initial public offering and according to investment bankers, the issue size is expected to be around Rs 3,000 crore.

First Published: Mon, January 06 2020. 19:15 IST
RECOMMENDED FOR YOU