Top Mutual Fund Houses- Reliance and HDFC Make Changes in Their Schemes
Although SEBI’s new rationalization and categorization rules were circulated in October 2017, their effects are unveiling as the mutual fund houses are realizing the gravity of implying them. This step has been taken to ensure different MF schemes are clearly distinct in asset allocation, investment strategy, and other attributes.
To bring in uniformity and help the investors evaluate various options before making any investment, the fund houses are guided to make the necessary changes and intimate their respective investors. AMCs like Reliance, HDFC, Tata, and IDFC have released statements regarding the changes in the fundamental attributes and mergers of certain schemes.
As per the notice issued by Reliance Mutual Fund, the schemes with updated names and re-categorization are listed below. All the below-mentioned changes will be effective from April 28, 2018.
Reliance Mutual Fund:
HDFC Mutual Fund:
Similarly, to comply with the SEBI norms, HDFC Mutual Fund has merged some of its schemes together so that they fall under the mandate category. The mergers will be effective from May 8, 2018.
- HDFC Corporate Debt Opportunities Fund and HDFC Regular savings Fund will be merged together to form HDFC Credit Risk Debt Fund.
- HDFC Medium Term Opportunities Fund, HDFC Floating Rate Income Fund- Long Term Plan, and HDFC Gilt Fund - Short Term Plan will be merged together to create HDFC Corporate Bond Fund.
Many mutual fund houses have already made the necessary changes in the names or merged some of the schemes in compliance with the new SEBI rules. Follow the updates on the same by visiting the MF News regularly.
- MySIPonline Awarded the Highest Equity & Debt Net Sales from DSP BlackRock MF8722 min read Aug 16, 2018
- Best Mutual Funds to Choose After the RBI Repo Rate Hike4554 min read Aug 03, 2018
- NFO Launched: ICICI Prudential Bharat Consumption Fund- Series 46703 min read Jul 31, 2018