SBI Mutual Fund (SBI MF) transfers Unitech from Debt to Equity Funds

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SBI Mutual Fund (SBI MF) is one of the largest mutual funds in the country with an investor base of over 5.4 million. With over 20 years of rich experience in fund management, SBI MF brings forward its expertise in consistently delivering value to its investors.

SBI transfers Unitech exposure from debt funds to equity funds – In a bid to cushion a blow to its debt schemes, SBI Funds Management Pvt. Ltd has moved debt papers it holds of embattled Delhi-based realtor Unitech Ltd into its equity schemes.
This means investors in its equity schemes will have to bear any risk that the Unitech debt paper brings with it.

The move means investors in its equity schemes will have to bear any risk that the debt paper brings

SBI Mutual Funds’ moving Unitech paper from debt to equity schemes comes in the wake of other AMCs also resorting to transferring some real estate debt papers they hold to their parent organisations. Mint had reported on 15 December, 2008, that state-owned Life Insurance Corp. of India Ltd had in October bought at least Rs1,755 crore worth of illiquid debt paper, largely of real estate firms, from its mutual fund subsidiary, LIC Asset Management Company Ltd (LIC MF).

Source : Livemint.com

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One Response to “SBI Mutual Fund (SBI MF) transfers Unitech from Debt to Equity Funds”

  1. Anonymous says:

    SBI Mutual Fund (SBI MF) transfers Unitech from Debt to Equity Funds | Market Buzz…

    SBI transfers Unitech exposure from debt funds to equity funds -…

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