FMP default issue - Should investors worry?

Fixed Maturity Plans (FMPs) have been the flavour for debt investors for quite some time now for obvious reasons.

Apr 19, 2019 11:04 IST India Infoline News Service

Mutual Funds

Mutual Fund houses delay, extend maturity of FMP - Media reports

Mutual fund (MF) house, with exposure of Essel Group, mostly in their debt schemes, are delaying payments to investors in fixed maturity plans (FMPs), media reports suggested.

As per media reports, HDFC MF has extended the tenure of its FMP by over one year to April 2020, while Kotak MF has informed investors that the fund house will make part-payment on maturity.

Further, the stock market regulator has caught the development and asked all mutual funds to provide details of debt schemes backed by promoter shares.

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