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The Economic Times
The Economic Times
Business

Kotak MF suspends subscriptions in two debt funds holding Yes Bank AT1 bonds

YES Bank Bonds Mutual Funds Tata Mutual Fund Kotak Mahindra AMC ETF Gold

Kotak Mahindra Asset Management Company (AMC) has temporarily suspended subscriptions in two debt mutual fund schemes holding Yes Bank's Additional Tier 1 (AT1) bonds, as a precautionary measure to safeguard investors' interests.

The two schemes, Kotak Medium Term Fund and Kotak Credit Risk Fund, hold Yes Bank AT1 bonds that were valued at zero after the fund house said they were written off during the reconstruction of the private sector lender in March 2020, in a statement on Thursday.

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