UTI Mutual Fund Articles

Debt repayment
July 11, 2020
Franklin MF gets payment from Vodafone Idea as bond matures; UTI MF and Nippon MF also receive dues

The debt fund schemes had segregated the exposure to Vodafone Idea after writing down its value to zero; now investors will be paid back the money in next few days

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side pocketing in mutual funds
February 18, 2020
Vodafone Idea debt: Side pockets created in 5 funds of UTI MF and 3 funds of Nippon India MF

CARE Ratings downgraded Vodafone Idea debt to below investment grade rating of BB minus forcing UTI MF and Nippon India MF side-pocket the debt

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Debt fund strategy
January 29, 2020
Why UTI, Nippon and Aditya Birla Sun Life MF haven’t side pocketed Vodafone Idea debt yet

Franklin Templeton MF remains the sole fund-house to have bitten the bullet by creating side pocket for Vodafone Idea holdings

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NAV mark down
January 18, 2020
UTI, Nippon, ABSL MF schemes write down Vodafone Idea exposure after Franklin move

UTI Credit Risk hit the hardest with over 10% NAV drop

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MF debt exposure
October 14, 2019
UTI MF rejects 42% haircut plan in IL&FS; provides update on Reliance Home Finance, Altico debt exposure

The 7th largest fund house also provides suggestions for modifying DHFL resolution plan, which in its first format does not envisage any principal haircut

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debt default
September 14, 2019
Debt MFs hit hard after Anil Ambani group-owned parent co of Business Broadcast News gets a ratings downgrade after default

NAV of PGIM funds drop by up to 30% in 1 day; UTI fixed maturity plans’ NAV drop by up to 8.20%

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Credit Default
September 14, 2019
Altico Capital default: UTI Credit Risk Fund creates side pocket; Reliance Ultra Short Duration NAV drops 3.9%

UTI Credit Risk Fund has an exposure of Rs 200 crore or about 6% of its AUM, while Reliance Ultra Short Duration Fund has an exposure of Rs 150 crore or 4.6% of its AUM

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Mark down
June 9, 2019
UTI MF increases markdown to DHFL debt from 75% to 100%; introduces exit load in 5 exposed schemes

If there is any recovery in the future, the provision will be written back to the schemes on actual receipt basis

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debt default
June 6, 2019
Debt mutual funds post up to 53% drop in NAV on June 4, as DHFL debt crisis deepens; should you exit or stay put?

Among mutual fund houses, exposure to DHFL group is highest in UTI Mutual Fund (over Rs 1,900 crore), followed by Reliance Nippon (over Rs 1,100 crore), Franklin Templeton (over Rs 500 crore) and others

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