feb 1 reuters  mutual funds have low exposure to listed adani group companies whose shares have dropped since publication of a report into the group by hindenburg research on jan 24 on wednesday adani group stocks extended their losses since the appearance of the report to 72 billion hindenburg criticised the conglomerate for improper use of offshore tax havens and flagged concerns about high debt in the same period indian equity mutual funds have on average lost 16 of their net asset values less than a 25 dip in the broad nifty 50 index nsei that has been partly driven by falls in adani group companies mutual funds from india and elsewhere hold just 34 of adani enterprises adelns 28 of adani total gas adagns and 36 of adani green energy adnans promoters of the companies hold most of the shares adani enterprises and adani port apsens are constituents of the nifty 50 so they are automatically in portfolios of some exchangetraded funds etfs and index funds but active funds have very little exposure to adani stocks and are largely unscathed by their fall uslisted ishares msci india etf  which at the end of december had a combined holding of 172 million in adani transmission adani total gas and adani enterprises has lost 27 over the past week among active funds the kotak balanced advantage fund  which has positions in adani enterprises and adani ports and special economic zone has shed just 05 reporting by gaurav dogra and patturaja murugaboopathy in bengaluru editing by bradley perrett