perpetual bonds

What to do if your MF holds perpetual bonds?

Vidya Bala / Mutual funds & ETFs, Premium, Strategies / March 23, 2021

Perpetual bonds have caused some sleepless nights for fund managers after SEBI’s circular earlier this month. On March 10th, SEBI issued a circular capping the debt scheme exposure to perpetual bonds at 10% and also laying down new rules how these bonds should be valued in debt scheme portfolios. We wrote a short take on it last week suggesting that you wait for clarity. SEBI has now come up with one more circular offering some clarification.

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Prime Data Crunch: Mutual fund holdings in bank perpetual bonds

Bhavana Acharya / Mutual funds & ETFs / March 20, 2020

Several mutual funds that held Yes Bank’s perpetual bonds had to mark a loss, and this is a loss that can’t be recovered, as things stand. In this scenario, we’ve had many questions over the quantum of fund exposure to AT1 bonds. So here are the numbers.

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What they didn’t tell you about perpetual bonds (AT1 bonds)

Aarati Krishnan / Bonds & Deposits / March 9, 2020

RBI’s rescue package for Yes Bank, which will see SBI infusing capital into the bank to pick up 49 % of its equity, offers a breather to its depositors and shareholders. But one class of stakeholders who are set to take a comprehensive haircut valued at Rs 10,800 crore despite the bailout, are the holders of Additional Tier 1 (AT1) bonds in the bank.

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