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DSP Mutual Fund had recovered its entire exposure of ₹150 crore of investment made in debt papers of embattled Dewan Housing Finance (DHFL).
Seven schemes of the fund house had an exposure of ₹150 crore to commercial papers (CP) issued by DHFL with scheduled maturity on June 25, 2019. DHFL had made part-payment of ₹60 crore on June 25, and ₹15 crore on June 28. Over the past two months, DSP MF had been engaging with the issuer for recovery of the remaining amount.
On September 7, the company had paid the balance amount of ₹75 crore, resulting in complete recovery for the CP investment, said DSP Mutual Fund in a statement.
With the recovery of funds, DSP Strategic Bond Fund and DSP Dual Advantage Fund Series 46-36M saw the highest gain of 2.73 per cent and 2.22 per cent, respectively.
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