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Once the star of its sector, the dynamic bond fund has seen assets drop to 10% of their peak in 2016, and has little to show by way of performance to attract investors.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.
As retail interest in public issuances fades, mutual funds are filling the gap—funding promoter exits and delivering subpar returns to the very investors they represent.
Divergent narratives from the Haryana government and the lender raise deeper questions on oversight, authorizations and systemic lapses—answers that may emerge only after a forensic audit.