“Debt Funds are safer and better than FDs and give high post-tax return” this has been the narrative since last 2-5 years. But the narrative has not helped much; at least the numbers say so. Share of retail investors in Debt Mutual Funds is just not encouraging. This is due to frequent mishaps that have happened in Debt Funds over last few years. Initially, investors tried their luck with Income and Dynamic Bond Funds only to get caught off guard in rising interest rate cycles, Fund Managers too didn’t get it right.
Later they choose Credit Funds, and retail investors once again tried their luck and then downgrades and defaults in bonds in these funds trapped them unaware. While today investors are cursing Credit Funds, I would urge not forget that Duration Funds have lost far more investor’s money than Credit risk Funds.
Debt funds with Vodafone exposure is listed below: Many funds had 5* rating by leading websites in personal finance.
- UTI Credit Risk fund
- UTI Bond fund
- Nippon Hybrid Bond
- Franklin Low Duration
- UTI Regular Savings
- Franklin Income Opps fund
- Franklin Credit Risk fund
- Franklin ST Income Plan
- Franklin Ultra Short Bond
- Franklin Dynamic Accrual
- Aditya Birla Regular Savings
- UTI Dynamic Bond
- Aditya Birla SL Equity Hybrid
- UTI Medium Term
- UTI CCF – Savings Plan
- Aditya Birla SL Medium Term
- Nippon Credit Risk
- Aditya Birla SL Short Term fund
- UTI ULIP
- Nippon Strategic Debt
- UTI Retirement Benefit
The net asset values (NAVs) of debt schemes of UTI Mutual, Nippon India Mutual and Aditya Birla Sun Life Mutual holding bonds of Vodafone IdeaNSE 3.57 % dipped between 1 per cent and 10 per cent on Saturday after the fund houses marked down the values of their holdings of the telecom operator’s papers. A day earlier, NAVs of six Franklin schemes holding Vodafone securities fell between 4.28 per cent and 6.87 per cent, adjusting for the markdown. The decline in NAVs followed the Supreme Court’s decision to reject review petitions of various telecom companies challenging its judgement in the adjusted gross revenue (AGR) case.
Vodafone Idea is seen as the most impacted by the judgement. The company has a total debt of close to Rs 98,000 crore as of September 2019.
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