Reliance Mutual Fund gets interest on DHFL securities, will return full money to FMP unit holders

MUMBAI: Late evening June 7, Reliance Mutual Fund has got interest income on the securities of DHFL which was due on June 4.

Reliance mutual fund had four fixed maturity plans (FMPs) that matured on June 6 in which held DHFL securities in its portfolios. Since DHFL did not pay interest due to June 4, the fund house had written off 100% of its investments in DHFL and returned back money to investors. After receiving interest today, Reliance Mutual Fund has decided to proportionately pay this money to all unitholders in the next two days. An spokesperson at Reliance MF confirmed the same. With this unitholders of Reliance Mutual Fund FMPs, will get their full money back and will not suffer any loss, due to holding DHFL paper.