Kotak Mahindra mutual fund exposure in DHFL at ₹140 crore1 min read . Updated: 21 Jul 2019, 06:57 PM IST
- 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.
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