HDFC AMC to provide liquidity arrangement to certain FMP schemes
18th Jun 2019

HDFC Asset Management Company (HDFC AMC) has decided to provide a liquidity arrangement to certain fixed maturity plan (FMP) schemes of HDFC Mutual Fund, to deal with the illiquidity faced by such FMP schemes due to their exposure to the non-convertible debentures (NCDs) issued by Edisons Infrapower & Multiventures and Sprit Infrapower & Multiventures, companies promoted by the Essel group. The liquidity arrangement may involve an aggregate outlay not exceeding Rs 500 crore and will be put in place shortly.

The arrangement is in the long term interest of the company and is being undertaken purely as a measure to provide liquidity to the relevant unit holders.

HDFC AMC provides the product and services of Asset Management is childrens gift funds, Fixed maturity plan, Debt/income fund, liquid fund, Equity/growth fund, Exchange traded fund, Fund of fund schemes, Quaterly internal fund, Rajiv Gandhi Equity savings fund, HDFC annual internal fund Series 1.