Principal Mutual Fund has announced the merger of Principal Retail Equity Savings Fund into Principal Growth Fund, with effect from February 28, 2014.
Investors who want to continue can do so without doing anything. However, investors, who want to exit from Principal Retail Equity Savings Fund, can redeem their units between January 29, 2014 and February 28, 2014.
The unit holders who do not redeem/switch the current value of their holdings, will be converted into units of respective surviving scheme, by allotting units at the applicable NAV as on February 28, 2014.