INSUBCONTINENT EXCLUSIVE:
Mumbai: UTI Mutual Fund on Monday said it has created a segregated portfolio for debt securities of Vodafone Idea after Care Ratings
Rs 186 crore -- in its UTI Credit Risk Fund, UTI Bond Fund, UTI Regular Savings Fund, UTI Dynamic Bond Fund and UTI Medium Term Fund.
It
said that upon recovery of money from Vodafone Idea in the segregated portfolio, the money recovered will be distributed to investors in
proportion to their holdings in the segregated portfolio.
Existing investors in the schemes will be allotted an equal number of units in the
segregated portfolio as those held in the main portfolio.
No subscription or redemption will be allowed in the segregated portfolio of the
captioned schemes, it said.
Investors redeeming their units will get redemption proceeds based on the NAV of the main portfolio and will
facilities/instruments of Vodafone Idea takes into account the significant erosion in the overall risk profile of the company while taking
into cognizance of the financial impact of no relief being granted on modification plea on February 14, 2020 of telecom companies (telcos),
the rating agency said in a release.
