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UTI Mutual Fund receives payments from Altico Capital

UTI Mutual Fund receives payments from Altico Capital

Monday, January 6, 2020, 9:17 PM

UTI Mutual Fund said it has received payments to the tune of Rs.20.5-crore from Altico Capital India, a lender to real estate companies. Certain UTI Mutual Fund schemes invested in debt instruments of Altico that were downgraded to below investment grade by credit rating agencies in September-2019. Pursuant to this, UTI Mutual Fund schemes marked down their respective exposures to such instruments by 75%.
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