HDFC MF takes additional 13% haircut on exposure to IL&FS group's SPV

The total markdown now stands at 50 per cent, in line with guidelines laid down by Amfi for below-investment grade papers

HDFC MF takes additional 13% haircut on exposure to IL&FS group's SPV
BS Reporter
1 min read Last Updated : May 10 2019 | 12:15 AM IST
HDFC Mutual Fund has taken an additional 13 per cent haircut on its exposure to IL&FS group's  special purpose vehicle, the  Hazaribagh Ranchi Expressway.

The total markdown now stands at 50 per cent, in line with  guidelines laid down by Amfi for below-investment grade papers. These guidelines were drawn after Sebi stated that MFs should follow uniform valuation methodology for papers downgraded to below-investment grade.

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