List of 18 Mutual Fund Schemes that has exposure to IL&FS
IL&FS Crisis has created big shock for stock market investors. While Govt has taken over the control, the risk is still not eliminated. Investors of direct equity stakes are thinking whether to exit from the stock market or continue to invest. Mutual Fund investors who have been thinking long term goals are watching carefully of everyday incident in the stock market now. What are the list of mutual fund schemes that has exposure to IL&FS group companies? Should you continue to invest in such mutual funds? Should you continue to invest in other mutual funds or exit from stock market now?
Also Read: Top International Mutual Funds to invest now
What is IL&FS Crisis?
IL&FS Crisis has tumbled the Indian economy. Few days back, NCLT judgement allowed Govt of India to take over the control of IL&FS and sack the board of directors of the group company. Till last Sunday, investors felt it would collapse entire mutual fund industry in India. With this move, there is new hope that things would get stabilized. If you want to know more about IL&FS Crisis, you can read it here.
List of Mutual Fund Schemes that has exposure to IL&FS
If you are mutual fund investor, you might be thinking which is the mutual fund scheme that has exposure to IL&FS group companies. Such mutual funds, list would help you to assess the risk what you are carrying now. Here are the list of mutual fund schemes that have invested in IL&FS commercial papers and related debt instruments. Most of the funds that invested in this group are short term debt funds or liquid funds. One should note that this is purely based on investments done by mutual fund schemes in companies on debt instruments and not that they have purchased IL&FS group shares.
1) Motilal Oswal Ultra Short Term Fund
Total AUM is ₹ 995 Crores out of which it has invested 10% of the amount in IL&FS group company commercial papers and related debt instruments. I do not know how a fund manager can be so careless in investing 10% of fund value in one group entity.
2) Principal Cash Management Fund
Total AUM is ₹ 1,040 Crores out of which it has invested 10% of the amount in IL&FS group company commercial papers and related debt instruments. Looks even this fund manager is careless and invested 10% in one group entity.
3) Invesco India Credit Risk Fund
Total AUM is ₹ 403 Crores out of which it has invested 7.7% of the amount in IL&FS group company commercial papers and related debt instruments.
4) Principal UItra Short Term Fund
Total AUM is ₹ 118 Crores out of which it has invested 7.5% of the amount in IL&FS group company commercial papers and related debt instruments.
5) DSP Credit Risk Fund
Total AUM is ₹ 6,881 Crores out of which it has invested 6.5% of the amount in IL&FS group company commercial papers and related debt instruments. Two weeks back, IL&FS has defaulted commercial paper of this mutual fund. Now currently this fund is facing redemption pressure as corporate clients are pressuring for money from this fund
6) BOI Axa Credit Risk Fund
Total AUM is ₹ 1,689 Crores out of which it has invested 6% of the amount in IL&FS group company commercial papers and related debt instruments.
7) TATA Corporate Bond Fund
Total AUM is ₹ 536 Crores out of which it has invested 4.6% of the amount in IL&FS group company commercial papers and related debt instruments.
8) LIC MF Liquid Fund
Total AUM is ₹ 16,643 Crores out of which it has invested 4.2% of the amount in IL&FS group company commercial papers and related debt instruments.
9) Union Liquid Fund
Total AUM is ₹ 2,490 Crores out of which it has invested 4% of the amount in IL&FS group company commercial papers and related debt instruments.
10) Tata Short Term Bond Fund
Total AUM is ₹ 5,273 Crores out of which it has invested 3.2% of the amount in IL&FS group company commercial papers and related debt instruments.
11) Aditya Birla SL Medium Term Plan
Total AUM is ₹ 11,469 Crores out of which it has invested 3% of the amount in IL&FS group company commercial papers and related debt instruments.
12) Tata Money Market Fund
Total AUM is ₹ 2,119 Crores out of which it has invested 2.3% of the amount in IL&FS group company commercial papers and related debt instruments.
13) Aditya Birla SL Credit Risk Fund
Total AUM is ₹ 8,326 Crores out of which it has invested 2.2% of the amount in IL&FS group company commercial papers and related debt instruments.
14) Mirae Asset Cash Management
Total AUM is ₹ 2,488 Crores out of which it has invested 2% of the amount in IL&FS group company commercial papers and related debt instruments.
15) DSP Bond Fund
Total AUM is ₹ 663 Crores out of which it has invested 1.9% of the amount in IL&FS group company commercial papers and related debt instruments.
16) DSP Ultra Short Term Fund
Total AUM is ₹ 4,237 Crores out of which it has invested 1.5% of the amount in IL&FS group company commercial papers and related debt instruments.
17) HSBC Cash Fund
Total AUM is ₹ 7,507 Crores out of which it has invested 1.4% of the amount in IL&FS group company commercial papers and related debt instruments.
18) Principal Low Duration Fund
Total AUM is ₹ 522 Crores out of which it has invested 0.5% of the amount in IL&FS group company commercial papers and related debt instruments.
The above data is as of end of Aug-18. Latest data as of end of Sep would be published only after 2 weeks, hence above data is taken for analysis.
Which are the top 5 Mutual Fund Schemes that invested highest value in IL&FS group?
1) LIC MF Liquid Fund invested ₹ 697 Crores.
2) DSP Credit Risk Fund invested ₹ 445 Crores.
3) Aditya Birla SL Medium Term Plan invested ₹ 348 Crores.
4) Adity Birla SL Credit Risk Fund invested ₹ 189 Crores.
5) HSBC Cash Fund invested ₹ 105 Crores.
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Should you continue in these Mutual Fund schemes that has exposure to IL&FS group companies?
After the news that the Government is taking over the control of IL&FS board, stock market started reacting positively. However, there is no definite guarantee that money invested by mutual fund schemes in such group companies would be recovered to the fullest extent. This would definitely have an impact on the mutual fund schemes that has invested in such group companies. If you have invested in any of the above mutual fund schemes and cannot take further risk, you should get out of the mutual fund schemes immediately. If you can take some risk and see how the new board is going to put a plan of action to recover the crisis ridden company, can continue to invest for some more time. If you are falling in second category, you should know that you are exposed to risk and need to keep a close eye for next few months.
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Suresh
List of 18 Mutual Fund Schemes that has exposure to IL&FS
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Mr Suresh
appreciate you for the above article mentioning 18 mutual funds. Good work indeed.
BUT kindly advise why yr list does not include some schemes like UTI Dyn Bond, ABSL ST Opp fund etc that were revealed yesterday, as being affected by exposure to IL&FS.
I am asking because is it possible inspite of best efforts by good Samaritans like you, more skeletons so far unknown will keep coming out of the rotten IL&FS stable?
Hello Bala, the list which we extracted during that time was where these had huge exposure. The list is not comprehensive. If you want to know any of your funds has exposure to IL&FS, better to go to their portfolio and check if it invests in IL&FS or its subsidiary companies.
Helloo Suresh..
Thanks for the great article, kindly advice me on the below funds –
ICICI Prudential Bluechip Fund – Growth – 1000
Kotak Standard Multicap Fund – Growth (Regular Plan) – 7000
L&T Tax Advantage Fund – Growth – 2000
L&T Midcap Fund – Growth -5000
L&T India Value Fund – Growth -6000
SBI Focused Equity Fund Regular Growth – 2000
SBI Magnum Multicap Fund – Regular Plan – Growth – 7000
Tata Equity P/E Fund Regular Plan – Growth – 10000
Franklin India Equity Fund – 1500
Franklin India Smaller Companies Fund – 2000
RELIANCE LARGE CAP FUND – GROWTH PLAN GROWTH OPTION – 3500
UTI-Transportation & Logistics Fund – GROWTH PLAN – 2000
Aditya Birla Sun Life Pure Value Fund – Growth-Regular Plan – 5000
DSP Small Cap Fund – Regular Plan – Growth – 3500
Good Funds. However you have invested in 14 funds which are too high. Invest in 5-8 mutual fund schemes. You can have largecap, midcap, smallcap, balanced and sector funds.
Great Work! 🙂
Thanks Mr. Suresh for the detailed article.
I am really worried about our wealth since we have the option to invest in MF or Stock as an alternative against the low bank FD rates. Like Lehman in America, now we are also
realised by facing this after Satyam Scam. I am really not understand why our controlling agencies like MF AMC, Board of Directors, Major Shareholders, Comiittee of the Co., Rating Agency, ROC, SEBI & others are failed in this case to identify and where is the lapse and when and how this will sortout. What is the guarantee from the Govt. like these not happen in future. Whatever may be, atlast our confidence is going down and I am really confused how to preserve the wealth above the inflation rate. Finally who we have to blame & who is responsible & how to avoid in future.
I agree with your views Ravi. These are million dollar questions. The best way is to diversify your investments in stocks, mutual funds, gold, real estate etc., though not good idea, but some way can secure your money.
Suresh ji
Please list out the stocks from 2014 low
Write the article.
Example vatech webag 60% fall from high.
Sure Thiru
Hi Suresh Ji,
Thanks for your research and timely updates with appropriate information related to IL&FS saga.
As per this analysis, I hope that one can safely continue to invest in other Mutual funds which are not mentioned here, please share your opinion.
Thanks,
Prashanth
Prashanth, Stock markets are reacting negatively. Hence while investing in other mutual funds are safe, there could be negative returns in short term.
Hello Sureshji, Thanks for the updates and well written article. I am investing in below companies. Should i continue to invest or keeping in current market condition, i should change my portfolio?
Principal Emerging Bluechip Fund , UTI trans. And logistics fund, ICICI value discovery Fund, SBI FMCG fund,
Regards,
Sheetal
Sheetal, These funds are good, however high risk as 2 of them are sector funds and 2 is midcaps. If you don’t need money in near future, you can continue to invest.
hi suresh…
thanks for informing ILFS exposure…
but when i see Adity Birla SL Credit Risk Fund NAV…it has not decreased by 2%…
it has 2% exposure…
please explain…whats wrong in my understanding…
Aravind, Unless the MF scheme writes-off it, they would still contniue to show this as investment. Just see what happened with BOI Axa Credit risk fund. They have written off their 6% of IL&FS exposure and their NAV has fallen by more than 5.2%.