Widely read:
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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