Mutual Funds Such as Canara Robeco and IDBI are Changing Their Schemes’ Attributes
It’s been 6 months since the prominent regulatory body - Securities and Exchange Board of India (SEBI) has issued the guidelines for categorization and rationalization of mutual fund schemes.
However, it has been calculated that less than 2% of them have undergone a merger. As per the data collected from October 2017 to March 2018, 15 mutual fund schemes have been merged so far, majority of which are debt-oriented. Experts believe that the new directive for the categorization has provided enough options so that the fund houses need not go for large-scale consolidations. However, the process of consolidation and modification is expected to continue for a few months ahead as more AMCs are going to reveal the transitions in their schemes.
Canara Robeco Mutual Fund
In the same sequence, Canara Robeco MF has announced the changes in the names of 9 schemes and category of 12 funds whereas it has merged four of its schemes to form 2 new ones with new name and category. The changes will be effective from May 14, 2018.
IDBI Mutual Fund
IDBI Mutual Fund seemed to have its schemes in line with the new norms by SEBI. The table below shows that it has not struggled a lot in re-categorizing IDBI Mutual Fund schemes. As a result, the fund house has already wrapped up its process and the changes came in effect from March 27, 2018.
For more information related to change in schemes’ name and category, keep visiting MySIPonline.
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