JM Financial Mutual Fund has announced merger of JM Nifty Plus Fund into JM Equity Fund and JM Emerging Leaders Fund into JM Multi Strategy Fund, with effect from July 29, 2011.
Details of the Options proposed to be merged are as follows:
• Dividend Option under merging scheme would be merged into JM Equity Fund – Dividend option and would be renamed as JM Equity Fund - Dividend option.
• Growth Option under merging scheme would be merged into JM Equity Fund – Growth Option and would be renamed as JM Equity Fund - Growth option
• Dividend Option under merging schemes would be merged into JM Multi Strategy Fund – Dividend option and would be renamed as JM Multi Strategy Fund - Dividend option.
• Growth Option under merging schemes would be merged into JM Multi Strategy Fund – Growth Option and would be renamed as JM Multi Strategy Fund - Growth option.
For the unitholders who do not redeem/ switch out, the current value of their holding in merging scheme as on July 29,2011, their holding will be converted into units of the surviving scheme at the applicable NAV as on July 29, 2011, after deduction of applicable withholding tax (in case of NRIs).
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