Reliance MF gets the fee from DHFL, to repay money to FMP investors

by Marie Rodriguez

In a written communication to investors, Reliance Mutual Fund has said it has marked down 100 percent on Dewan Housing Finance Ltd (DHFL), for which the scheduled maturity was on June 4. We have taken a hundred percent haircut in securities where the scheduled maturity was June 4, 2019. For all other deposits wherein payments have not fallen due, however, are rated Default Grade (D), we have marked down our investments by using seventy-five percent in keeping with valuation groups,” Reliance Mutual Fund stated in a note to buyers.

Reliance MF gets the fee from DHFL, to repay money to FMP investors 3


For the schemes maturing on June 4, Reliance Mutual Fund stated,” The organization (DHFL) has because repaid its responsibilities towards adulthood associated repayments for the ZCB developing on 04/06/2019 bearing ISIN Number: INE202B07AU7, these days, i.E., 07/06/2019. For the FMPs that have matured, the equal shall be remitted to buyers eventually. Further, assets at the fund residence confirmed that Reliance Nippon Life.

AMC (RNAM) had obtained the charge from DHFL securities, and RNAM pays proportionately to all the unitholders of FMPs maturing on June 6 within the subsequent two operating days. On June four, DHFL began to pay hobby and principal payments of Rs 1,160 crore to all the bondholders. DHFL could not pay principal and interest until the end of the day (June 6) and requested a seven-day grace length.

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