Mumbai, April 30 : IL&FS Mutual Fund Tuesday paid Rs 314 crore to investors in one of its infrastructure debt fund, making on-time redemption, according to a release. The money was paid to investors in IL&FS Mutual Fund’s first debt fund series — IL&FS Infrastructure Debt Fund Series 1-A (IDF Scheme A) — that is due April 30.
The five-year close-ended scheme was fully funded in April 2014 and had raised Rs 238 crore in assets under management. “The scheme redeemed Rs 314 crore to the investors, which was paid out today,” IL&FS Infra Asset Management Ltd said in the release.
The on-time redemption of money assumes significance as it also comes at a time when there are concerns about exposure of mutual funds to various groups, including crisis-hit IL&FS Group and Essel.
