Earlier in April 2019, two leading fund houses delayed repayments to investors in their FMPs (fixed maturity plans) with one MF rolling over one scheme by 380 days. Reason? The Essel group to which they had lent was unable to honour its repayment obligations. With fund houses having exposure of almost Rs 8,000 cr to the Essel group alone and more defaults, including possibly IL&FS, what does this mean for the future of MFs and more importantly, for investors in these funds? In hindsight, has the MF industry bitten off more than it could chew with its ‘mutual funds sahi hai’ campaign? Is it is very rapid growth to date going to prove its undoing? Watch this edition of Macros With Mythili.
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