UTI Mutual Fund on Friday mentioned it has obtained fee of a bit of over Rs 12 crore from Altico Capital India, a lender to actual property firms.
Sure UTI Mutual Fund schemes had invested in debt devices of Altico that have been downgraded to beneath funding grade by credit standing companies in September 2019.
Pursuant to this, UTI Mutual Fund schemes marked down their respective exposures to such devices by 75 per cent.
“UTI Mutual Fund has obtained the partial fee of Rs 12.30 crore from Altico Capital India Ltd on October eight, 2020, in UTI Credit score Danger Fund and sure UTI’s Mounted Time period Revenue Funds which have an publicity to the mentioned issuer,” the fund home mentioned in a press release.
The restoration proceeds shall be distributed to buyers in proportion to buyers’ unit holdings, it added.
“This reimbursement exhibits our dedication in the direction of our buyers and we are going to proceed our efforts in one of the best curiosity of the unit holders of our schemes,” UTI MF mentioned.
In January, the fund home had obtained fee to the tune of Rs 20.5 crore from Altico Capital.
(Solely the headline and movie of this report could have been reworked by the Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)
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