Exposure to debt securities of group firms of Reliance Capital safe: Reliance MF

Reliance Mutual Fund after rating downgrade of debt issued by group companies including Reliance Home Finance said its exposure to debt securities of some of the group companies of Reliance Capital is safe.

New Delhi: Reliance Mutual Fund Sunday said its exposure to debt securities of some of the group companies of Reliance Capital is safe.

The statement came a day after rating downgrade of debt issued by group companies including Reliance Home Finance.

Reliance Mutual Fund (RMF), in like manner as certain other MFs, has exposure of Rs 535 crore and Rs 1,083 crore to long-term NCDs issued by RCFL and RHFL, respectively.

"These exposures are held in only roughly 10 per cent of RMF's total 166 fixed income and hybrid schemes," Reliance Mutual Fund said in a statement.