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LIC MF has will soon manage all IDBI MF schemes. It has initiated the taking over the rights to manage, operate and administer all IDBI MF schemes, informed the fund house in a communication to Cafemutual.
It further said, “As a part of this proposed transaction, some of the schemes of both the mutual funds will be merged,”
The fund house has already sent a communication to its investors and in line with SEBI regulations, it has provided a 30-day exit option period from June 20, 2023 up to 3:00 pm of July 19, 2023.
IDBI Bank, the sponsor of IDBI MF signed an agreement in December last year to transfer the mutual fund business to LIC MF.
