Kotak MF suspends subscriptions in two debt funds holding Yes Bank AT1 bonds
In a move aimed at protecting investors, Kotak Mahindra Asset Management Company has put a temporary hold on subscriptions for two of its mutual fund schemes. This decision follows the zero valuation of Yes Bank AT1 bonds after a significant bank reconstruction in March 2020. Similarly, Tata Mutual Fund has restricted new investments in the Tata Gold ETF Fund of Fund, although existing investments and redemptions will continue uninterrupted.
Supreme Court rules against Yes Bank's write-off of Rs 8,415 crore AT1 bonds
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