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LIC Mutual Fund is to Acquire IDBI Mutual Fund

LIC Mutual Fund is to Acquire IDBI Mutual Fund

It is to inform that IDBI Mutual Fund is set to be acquired by LIC Mutual Fund, subject to the necessary approval from SEBI. The acquisition is expected to take place by the end of July 2023. As part of this acquisition, certain schemes of IDBI Mutual Fund which are similar in nature to LIC Mutual Fund are proposed to merge, as detailed below:

Transferor Scheme(s) Transferee Scheme(s) Surviving Scheme(s)
IDBI Banking & Financial Services Fund LIC MF Banking & Financial Services Fund LIC MF Banking & Financial Services Fund
IDBI Credit Risk Fund LIC MF Bond Fund LIC MF Medium to Long Duration Bond Fund
IDBI Equity Advantage Fund LIC MF Tax Plan Fund LIC MF ELSS
IDBI Flexi Cap Fund LIC MF Flexi Cap Fund LIC MF Flexi Cap Fund
IDBI Hybrid Equity Fund LIC MF Equity Hybrid Fund LIC MF Aggressive Hybrid Fund
IDBI India Top 100 Equity Fund LIC MF Large Cap Fund LIC MF Large Cap Fund
IDBI Liquid Fund LIC MF Liquid Fund LIC MF Liquid Fund
IDBI Nifty 50 Index Fund LIC MF Nifty 50 Index Fund LIC MF Nifty 50 Index Fund
IDBI Short Term Bond Fund LIC MF Short Term Debt Fund LIC MF Short Duration Fund
IDBI Ultra Short Term Fund LIC MF Ultra Short Term Fund LIC MF Ultra Short Duration Fund

Furthermore, there will be a change in the fund name, while ensuring that the character and features of the schemes remain unchanged, as mentioned below:

Existing scheme names under IDBI Mutual Fund Scheme names post acquisition
IDBI Dividend Yield Fund LIC MF Dividend Yield Fund
IDBI Equity Savings Fund LIC MF Equity Savings Fund
IDBI Focused 30 Equity Fund LIC MF Focused 30 Equity Fund
IDBI Gold ETF LIC MF Gold ETF
IDBI Gold Fund LIC MF Gold ETF FOF
IDBI Healthcare Fund LIC MF Healthcare Fund
IDBI Long Term Value Fund LIC MF Long Term Value Fund
IDBI Midcap Fund LIC MF Midcap Fund
IDBI Nifty Next 50 Index Fund LIC MF Nifty Next 50 Index Fund
IDBI Small Cap Fund LIC MF Small Cap Fund

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