Widely read:
Nippon India Mutual Fund has announced the merger of Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 50:50 (merging scheme) with Nippon India Nifty AAA CPSE Bond Plus SDL - Apr 2027 Maturity 60:40 Index Fund (surviving scheme). The merger will take effect on October 1, 2024.
As per the fund house, the merging scheme is set to terminate on September 30, 2024. And this merger will help investors stay invested in the prevailing interest rate environment.
The investors of the merging scheme who agree with the proposed merger have to provide their consent by filling in the form available on the AMC's website and submit the same between 15-30th September 2024. Those who do not wish to proceed with the merger or fail to provide their consent, their investments will be automatically redeemed on the date of merger.
In line with regulatory requirements, unit holders of the surviving scheme have been given a 30-day exit window from September 15, 2024, to October 14, 2024, wherein they have the option to redeem their existing investments without paying any exit load.
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