The value of a mutual fund scheme of Motilal Oswal Asset Management Company eroded the most after Manpasand Beverages Ltd.’s shares plunged 20 percent for the second consecutive day. The stock has fallen nearly 36 percent in two days after the juice maker’s auditor resigned four days before its board was to approve quarterly earnings.
The worst-hit Motilal Oswal Most Focused Multicap 35 Fund owns 58 lakh shares of the juice maker, comprising about 1.8 percent of the scheme’s portfolio. Four schemes from the SBI Mutual Fund were among the ones whose value eroded the most.
A total of 14 mutual fund schemes have exposure to the maker of Mango Sip, Bloomberg data show. ICICI Prudential FMCG Fund has the highest exposure, with 3.73 percent of its portfolio invested in the firm.
Here’s the list of mutual fund schemes that saw the maximum value erosion: