Now, getting information of new schemes post scheme merger has become easier. Karvy Computershare has launched a new service for distributors through which you can get access to details of new schemes after consolidation exercise in one place.
You will need to visit www.karvymfs.com for these details. Once you open this link, you have to click on ‘Scheme Merger Info’ on the extreme right of the website under ‘Quick Link’ section. Select an AMC name to view the scheme merger and categorisation details. Also, you can download it in excel format. Currently, details of scheme consolidation and merger of 9 AMCs are available.
Sharing the rationale for this facility, Ravikumar Somasi, General Manager, Karvy Computershare said that many distributors have been facing difficulty in finding the consolidated list of all schemes that were merged. “We have come out with this facility to help distributors get such data in one place. However, we can only provide details of Karvy serviced fund houses,” he added.
Similarly, CAMS has also put up an excel sheet of scheme merger and consolidation on its website. The registrar has, however, listed 76 schemes so far. An official from CAMS said that they would update it periodically. You can login to www.camsonline.com and simply click on ‘what’s new’ on the right hand side of the webpage to download this excel file.
Earlier, SEBI came out with uniform definitions for fund categories to reduce the number of schemes in mutual funds. Simply put, the market regulator has defined various categories of mutual fund schemes to reduce confusion among investors and expedite scheme consolidation.
However, many distributors and investors find it difficult to get such details at one place. The new facility by these registrar and transfer agents will help reduce ambiguity among distributors and investors.
