ICICI Prudential Mutual Fund (MF) has recently announced the merger of ICICI Pru Value Fund Series 19, a closed-end fund, into ICICI Pru Value Discovery Fund, an open-end scheme. The former will mature on June 24. Both funds pursue the value strategy.
Rationale behind merger Fund houses launch closed-end schemes based on certain themes. Sometimes these themes don’t play out within the scheme’s tenure or have scope for performance left.
