Mergers and consolidation may not happen in the mutual fund industry after the market regulator directed reclassification of various schemes, according to a senior official of the Mumbai-based PPFAS Mutual Fund.
He also said the cash-plus-arbitrage holding of PPFAS Mutual Fund is coming down.The PPFAS Mutual Find is planning to come out with an equity-linked savings scheme (ELSS) sometime next year, as well as a fixed income scheme in the future.