Home > Mutual Funds > News > Kotak Mahindra mutual fund exposure in DHFL at 140 crore
Majority of MFs having exposure in DHFL have marked down the value by about 75%
Majority of MFs having exposure in DHFL have marked down the value by about 75%

Kotak Mahindra mutual fund exposure in DHFL at 140 crore

  • The total exposure of the mutual fund industry in the company is estimated at 5,000 crore from 10 asset management companies
  • DHFL had reported a loss of 2,223 crore for the March quarter of the 2018-19 fiscal

NEW DELHI : Kotak Mahindra Asset Management Company has a total exposure of around 140 crore in crisis-hit home loan and property finance firm Dewan Housing Finance Corporation Ltd (DHFL), a source said.

The total exposure of the mutual fund industry in the company is estimated at 5,000 crore from 10 asset management companies (AMCs), he said.

"In absolute terms, the total exposure is 140 crore in two funds. In the first case, it is 40 crore out of a fund size of 5,500 crore, while in another fund of 4,000 crore, it is 100 crore," the Kotak AMC source said.

Its current assets under management (AUM) stood at 1,70,000 lakh crore.

Majority of MFs having exposure in DHFL have marked down the value by about 75 per cent, while a few slashed the value to even zero, the source said.

DHFL had reported a loss of 2,223 crore for the March quarter of the 2018-19 fiscal.

The company has reportedly not been able to fulfil its obligations towards debt repayment in the recent past, and there have been cases of a few defaults on commercial papers and bonds.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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