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MF industry wary of collateral damage from Zee investments

After weathering the IL&FS storm, the mutual fund industry is nervous about potential trouble with it’s exposure to Zee Group shares. Aditya Birla MF’s debt exposure in the form of loans against Zee Group shares was to the tune of about ₹2,700 crore while those of HDFC Mutual Fund and Franklin Templeton were about ₹1,200 crore and ₹1,000 crore respectively. Others like SBI Mutual Fund, Baroda Pioneer Mutual Fund , Reliance Mutual and Kotak Mutual Fund all had exposures ranging between 150 to 400 crores. While the figures seem small against their fund sizes, there are concerns about the possibility of successive write-downs after the IL&FS fiasco.

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