TIL Desk/Business/Mumbai/ Reliance Nippon Life Asset Management Ltd (RNAM) Sunday said the interests of Reliance Mutual Fund (RMF) investors are fully protected as its exposures in Reliance Commercial Finance Ltd (RCFL) and Reliance Home Finance Ltd (RHFL) are about 10 per cent of RMF’s 166 fixed income and hybrid schemes.
The RNAM is the asset manager of RMF’s schemes. In a statement issued here, the RNAM said the RMF’s exposure is of Rs 535 crore and Rs 1,083 crore to long term non-convertible debentures (NCD) issued by the RCFL and the RHFL respectively.
According to the RNAM, the managements of RCFL and RHFL have stated their intent to service all capital market and loan obligations in a timely manner on the respective due dates, through fast track asset securitisation/monetisation.
“Based on the above, and considering the adequate security held by RMF and short tenor of most of its above exposures, RMF believes that the interests of its investors are fully protected.
