Aditya Birla Sun Life MF halts fresh subscriptions in two debt funds
Aditya Birla Sun Life Mutual Fund
The move comes after Franklin Templeton MF last month closed six of its debt funds, citing redemption pressures and lack of liquidity in the bond markets.
In order to protect the interest of investors,
Further, no fresh registration under
"We have stopped taking additional money in our credit oriented funds - Medium Term Plan and Credit Risk Fund. We believe that there are substantial gains in our funds which would be realized by the existing investors over next few months", the fund house said in a statement.
"Since we do not wish to dilute this for existing investors by taking more money in these funds, we have stopped fresh subscriptions in these funds. This is done in the interest of investors," it added.
Industry experts said except for government bonds and a few AAA names, other segments of the bond market are facing liquidity problems in the secondary market.
SEE ALSO: Reliance strikes 5th deal, sells 2.32% in Jio Platforms for Rs 11,367 cr to KKR
- Sensex sinks 800 points, Nifty cracks below 11,300 — global selloff eroded ₹4.23 lakh crore from investor wealth
- INTERVIEW: Angel Broking CEO believes the ₹600 crore IPO will ride the ‘digital’ euphoria
- Kerala hikes allowance to transgenders for sex-change surgeries
- Best premium gaming headphones in India
- A breast cancer drug shows promise to change prostate cancer treatment