MF Wrap: Why mutual funds pared stake in NBFCs, HFCs in September
(WorldNews Business)

The resulting impact on debt mutual funds` risk appetite had raised concerns about how NBFCs will meet their funding needs Himadri Buch @himadribuch Mutual funds pared stake in most non-banking and housing finance companies or NBFCs in September as defaults in repayment by group companies of Infrastructure Leasing & Financial Services (IL&FS) and subsequent ratings downgrades led to fears of a contagion in the sector. Mounting concerns over asset-liability mismatches at NBFCs have prompted fund houses to prune stake in these companies. Fund houses largely offloaded stake in Shriram Transport Finance Co, Indiabulls Housing Finance, Dewan Housing Finance Corp, L&T Finance Holdings,...