SBI has reportedly paid Rs 1.3 crore to buy four schemes of Daiwa Mutual Fund.
SBI MF has acquired four schemes of Daiwa Mutual Fund with effect from November 15. SBI Mutual Fund has reportedly paid Rs. 1.3 crore to Daiwa as a part of this deal.
SBI MF has informed investors of Daiwa schemes to migrate their folios. Investors have to furnish details like folio numbers and PAN card number to transfer their folios.
Merger of Daiwa’s schemes
|
Daiwa Scheme |
New Scheme |
|
Daiwa Liquid Fund (DLF) |
SBI Magnum Instacash Fund – Liquid Floater Plan |
|
Daiwa Industry Leaders Fund (DILF) |
SBI Small & Midcap Fund |
|
Daiwa Treasury Advantage Fund (DTAF) |
SBI Treasury Advantage Fund |
|
Daiwa Government Securities Fund – Short Term Plan (DGSF-STP) |
SBI Benchmark G Sec Fund |
“With effect from November 16, 2013, all schemes that previously belonged to Daiwa Mutual Fund shall now be a part of SBI Mutual Fund,” said Daiwa MF.
Daiwa MF is a subsidiary of Japan’s second largest brokerage firm Daiwa Securities Group. In India, Daiwa MF started its operations in February, 2009. It managed AUM of Rs. 266 crore as on March 31, 2013. SBI Mutual Fund manages AUM of Rs. 58706 crore as on September, 2013.
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