How will the Yes Bank fiasco impact MFs? In case of equity funds, NAVs have reduced to the extent of decline in YBL's share prices. However, in percentage terms, the exposure is not large enough to have any significant impact on the overall assets under management (AUM) in any particular equity scheme of any particular fund house. In case of debt funds too, AMCs are writing down NAVs of schemes to the extent of exposure attributable to YBL. Nippon and Franklin Templeton have undertaken side-pocketing thus far.