Sun F&C Mutual Fund has taken over the two schemes of JF Mutual Fund, namely JF India Bond Fund and JF Personal Tax Saver 96. This will be effective from August 23, 2002. Consequently, these funds will be renamed as Sun F&C Bond Fund and the JF Personal Tax Saver, respectively.
With the above acquisition, Sun F&C Mutual Fund's asset base will increase by Rs 177.42 crore. Currently, Sun F&C manages 3 open-end equity funds and 5 open-end debt funds apart from 8 FMPs, with a total asset base of Rs 400.61 crore as on June 30, 2002.
The existing unit holders of the above two schemes have an option either to exit from the fund without any exit load till August 16, 2002 or stay with the fund. Sun F&C would not charge any entry load from the existing unit holders.
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