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BOI Axa Credit Risk Fund crashes 50% as AMC marks down debt securities
BOI Axa Credit Risk Fund lost 50.22% and BOI Axa Short Term Income Fund 9.5% of its value on 24 April as the fund house wrote down various debt securities. In addition, BOI Axa Conservative Hybrid Fund lost 1.7% of its value. The holdings included DHFL, Avantha Holdings, RKV Enterprise Pvt Ltd, Accelerating Education and Development Pvt Ltd, Coffee Day Natural Resources Pvt Ltd, Dinram Holdings Pvt Ltd and Amantha Healthcare Ltd. They had earlier been written down to varying degrees.