Mutual-funds invested in the debt of Vodafone-Idea, telco that must pay the government Rs.53,000-crore in dues, has begun segregating those investments into a separate portfolio after the company's creditworthiness was downgraded in light of the stressed finances. UTI Mutual-Fund and Nippon-India MF decided to create a segregated portfolio, following in the footsteps of Franklin Templeton Mutual-Fund, which had already segregated the investments last month.