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UTI, Nippon India MF create separate portfolios for Voda Idea AGR debt

Move follows downgrade by Care Ratings to below investment grade

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Of these, the hybrid bond fund has the largest exposure at Rs 112.9 crore or 3.15 per cent of net assets.

3 min read Last Updated : Feb 18 2020 | 1:23 AM IST

The UTI Mutual Fund (MF) and Nippon India MF has decided to create side-pockets or separate portfolios in their schemes holding the stressed debt paper of Vodafone Idea, which was downgraded to below-investment grade on Monday by Care Rating.

In a note on Monday, UTI MF said, "Pursuant to downgrade of debt instruments of Vodafone Idea to ‘BB-’ (i.e. ‘below investment grade’) ... UTI MF proposes to create a segregated portfolio in respect of debt securities of Vodafone Idea in UTI Credit Risk Fund, UTI Bond Fund, UTI Regular Savings Fund, UTI Dynamic Bond Fund and UTI Medium Term Fund

Topics : UTI MF Nippon Mutual funds investors

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