The net asset value (NAV) of three debt schemes of Nippon India MF moved up sharply by up to 13.67% in a single day on July 7. This happened as the fund house realised Rs 216.54 crore by selling its holdings in in the secondary market. Money received due to this realisation was added back to these schemes which saw their NAV move up sharply. The NAV of Nippon India Ultra Short Duration Fund moved up by 2.4%, Nippon India Credit Risk Fund 5.96% and Nippon India Strategic Fund 13.67% respectively.
Earlier the fund house had marked down its exposures in Reliance Home Finance (RHF) after the security was downgraded below investment grade by credit rating agencies and the security was being valued at 25% in the portfolio.
