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This reflects that issuer was unable to pay and FTMF has neither disclosed the said information for the valuation purpose nor has taken into account the stress of the Issuer for the purpose of fair valuation of securities. These issues have been dealt in subsequent paragraphs on Valuation Practices. Further, from the data of above two tables it can be seen that FIUBF, FILDF, FIIOF are also type of credit risk fund (with the feature of https://1investing.in/ investing more than 65% of the net assets in AA & below rated securities) with some variation in Macaulay Duration. Further, Para of the aforementioned circular reads Mutual Funds are advised to strictly adhere to the scheme characteristics stated herein as well as to the spirit of this circular. Mutual Funds must ensure that the schemes so devised should not result in duplication/minor modifications of other schemes offered by them.

SMA 2 numbers decreased from 5.09% as of September 2021 of the portfolio to 3.31% as of December 2021 of the portfolio. During this period, the loan book has increased from Rs. 6,595 Cr as of September 2021 to Rs. 6,741 Cr as of December 2021. During the quarter, the Private Equity platform has completed the first closing of PE Fund III and is in the process of further fund raising.

(Bespoke CDO) Bespoke tranche opportunity – 2019

As and when the credit markets are in position and having a fixed rate of interest are way low, the ones in search of investment income should try even harder as the products are however vastly diversified or one can say hugely varying from each other. In a recent interview with IndiaInfoline, our CMD Mr. Kamal Khetan shared in details about the company’s growth, opportunities, Joint ventures & on-going/upcoming projects. He also expressed gratefulness to the investors and customers for their continuous support in the brand. ‘Smartinvestor’ – Only a few big players left after huge consolidation in the sector who are taking advantage of the current environment and signing joint development agreements. Sunteck Realty who acquired a project in Naigaon looks at assets which have potential for growth and clean titles.

Distributors empaneled with JM Financial Services will be able to offer the services to existing as well as new clients, with one time account opening and limited paper work. The platform will be integrated with the Central Know Your Customer Registry thereby eliminating the need for submission of KYC for every transaction. The AUM/AUA of our wealth management business stood at Rs. 46,886 Cr as on December 31, 2019 as compared to Rs. 42,738 Cr as on December 31, 2018 and Rs. 46,818 Cr as on September 30, 2019. “Over the last fifteen months the external environment has been challenging. We have been able to demonstrate strong resilience from these challenges riding on our strong liquidity buffers, prudent leverage ratios as well as diversified businesses. JMFPL’s loan book stood at Rs. 4,137.2 crores (excluding impact of Ind AS adjustments viz interest accrued, expected credit loss and effective interest rate aggregating to ₹ (7.1) crore) as of December 31, 2019.

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During the quarter, we also funded 7 public issues wherein the aggregate amount of funding was around Rs. 21,469 Cr. During the quarter, we also funded 7 public issues aggregating to a funding of ~Rs. On the back of recovery of economy post COVID-19 and opening up of NCLTs, our distressed credit business also witnessed few resolutions, adding to the overall profitability of the Group for the quarter.

Therefore, I find no merit in the contentions raised by the Noticees in this regard. The schemes which have exercised buyback option have mentioned the reason for the above transaction as buyback. However, the schemes which have not exercised the offered buyback option have not documented the reason for not exercising the option. D) Maximum subscription limit to any particular security of any issuer. However, the Board has failed to take any specific steps/guidance for the various risk highlighted above.

Market Movers

The fund management team confirmed to the boards that the investment processes were being complied with, there was adequate investment rationale for the exposure to stressed issuers and risks were being duly monitored. It is noted that the Noticees submitted in their reply that it is a credit rating of security which determines liquidity and not the listing status of the security. Further, it is noted that the investors in mutual fund enter and exit the scheme based on daily NAVs and the ultimate responsibility of fair valuation of securities is of AMC.

From the investment portfolio of each of the aforementioned debt schemes, it is also noted that most of the securities forming part of their portfolio were either rated below or equal to AA even at the time of investment. Further, fresh investments in AA and below rated securities continued even after March 31, 2019, despite the respective debt schemes inspected having a high percentage of AA and below securities in the nonCredit Risk Funds. The Group’s fund based business, primarily consisting of developer financing, was resilient. Decline in interest rates and passing of RERA will augur well for organised players like us to gain market share. We have made an application to NHB for our foray into housing finance business with a focus on affordable housing and continue to bolster our efforts in this space.

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The company said it has further strengthened Sunteck’s presence in the Mumbai Metropolitan Region market. In a formal sense, the Government of India provides considerable transparency in the budget process, but in a substantive sense, public participation is very limited. The Fourteenth Finance Commission has the opportunity to recommend true budget transparency, accountability and participation. Healthcare as a public good should be available free of charge at the point of service delivery. This was the case across India until a flurry of reforms from the early 1990s onwards notified user charges for various health services in public health facilities.

FID – The Company’s real estate financing segment includes loan against land, loan against project at early stage, project funding, loan against ready residential / commercial property and loan against shares. The AUM/AUA of our wealth management business stood at Rs. 44,883 Cr as on March 31, 2020 as compared to Rs. 41,886 Cr as on March 31, 2019 and Rs. 46,886 Cr as on December 31, 2019. The JM Financial Yield Enhancer Fund I is a Category II AIF, and was set up in July last year after receiving requisite approval from SEBI. It is a sector agnostic fund with its core investment strategy aligned with the macro-economic scenario.

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In view of the above, it is noted that the disclosure of FTMF with regard to monthly portfolio was incorrect during October 2019 to February 2020. The cases linked on your profile facilitate Casemine’s artificial intelligence engine in recommending you to potential clients who might be interested in availing your services for similar matters. His grasp of financial markets and his philosophy of keeping clients’ interest disadvantages of trade credit above everything else has moved his practice from strength to strength over six major financial crises. We are grateful for your continued support that has compelled us to evolve with changing times and stay ahead of the curve. We assure you that we shall continue to provide specialized & customised services with our ‘Client first’ approach. We are excited to share that we have expanded our scope of services.

The contribution of JM Financial Asset Reconstruction Company Limited stood at Rs. 3,012 Cr as on March 31, 2020 and Rs. 2,946 Cr as on December 31, 2019. During the quarter, in IPO financing business, we funded 2 public issues wherein the aggregate amount of funding was around Rs. 8,733 Cr. Independent valuer to provide fair market value of shares of Ammann India P Ltd and issue valuation report to AEML and Ammann Group.