Mutual Funds With Equity Exposure To Yes Bank

HDFC Mutual Fund owned the highest stake among peers in Yes Bank Ltd., the private lender placed under moratorium by the government and whose board was superseded by the Reserve Bank of India citing its deteriorating financial position, according to shareholding data available as of December 2019.

In all, 20 asset managers hold Yes Bank’s shares worth Rs 525.5 crore through 72 schemes, according to data from Value Research. HDFC Mutual Fund has 2.27 percent, followed by SBI Mutual Fund’s 1.52 percent and Kotak Mahindra Mutual Fund’s 0.62 percent.

A DSP Mutual Fund scheme has the highest exposure as a percentage of its assets to Yes Bank. The top six schemes that have invested more than 1 percent of their assets in Yes Bank own nearly 34.5 lakh shares of the lender.

Yes Bank was seized by the government and RBI took over its management in a bid to restore depositors’ confidence in the bank, including by putting in place a scheme for reconstruction or amalgamation. Separately, the State Bank of India’s board gave an in-principle approval to explore an investment in the private lender struggling for capital because of bad loans.