The mutual fund (MF) industry’s exposure to Essel group papers is likely to cause more pain for debt funds, given that 19 fixed maturity plans (FMPs) are likely to mature before the standstill agreement with promoters ends on September 30.
According to Value Research data, these FMPs will have more than Rs 700 crore worth of investors’ money riding on one or both Essel group entities — Edisons Infrapower & Multiventures, and Konti Infrapower & Multiventures. Moreover, the data shows that as many as 61 FMPs have exposure to Essel group entities, with the aggregate ...
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