Two PGIM India schemes write back dues from Anil Ambani firms, NAVs soar

Ultra Short-term Fund, Short Maturity Fund see single-day jump of 40-50 per cent in NAVs

The net asset values (NAVs) of two schemes of PGIM India rose by 40-50 per cent on Friday, after various schemes of the fund house, formerly known as DHFL Pramerica Mutual Fund, wrote back the remaining Rs 149 crore of dues from the Anil Ambani group firms, Reliance Business Broadcast Network Holdings (RBBNH) and Reliance Commercial Finance (RCFL), and reversed the mark down they had taken on these exposures.

While the NAV of PGIM India Ultra Short-Term Fund was up 44.2 per cent, that of PGIM India Short Maturity Fund rose 52.1 per cent.

The impact of the repayment was