UTI Credit Risk Fund has recovered entire proceeds from Zee Learn Limited in the segregated portfolio, a press release from the fund house stated. The segregated portfolio was created on July 07 in UTI Credit Risk Fund and UTI Medium Term Fund.
UTI Mutual Fund has received the entire payment (along with interest accrued to date) due from Zee Learn Limited on July 14, 2020 in UTI Credit Risk Fund (which had been segregated on July 7, 2020) and UTI Medium Term Fund (which had been segregated on July 7, 2020).
On July 07, 2020 UTI Mutual Fund had created a segregated portfolio in respect of debt securities of Zee Learn Limited in UTI Credit Risk Fund and UTI Medium Term Fund due to the downgrade of such securities below investment grade.
The recovery proceeds, in proportion to investors’ unit holdings, will be credited to investors’ Core Banking Solution (CBS) bank account, if registered in the portfolio, and in the absence of CBS bank account details, the physical warrant will be dispatched once postal / courier services become operational.
This repayment shows our commitment towards our investors and we will continue our efforts in the best interest of the unit holders of our schemes.