JM Financial Mutual Fund has decided to do following Mergers in various equity schemes, the details are as follows:
- Merger of JM Agri & Infra Fund and JM Hi Fi Fund into JM Basic Fund
- Merger of JM Financial Services Sector Fund, JM Large Cap Fund and JM Telecom Sector Fund into JM Equity Fund.
- Merger of JM Contra Fund, JM Mid Cap Fund and JM Small & Mid Cap Fund into JM Multi Strategy Fund.
Investors, who do not agree with the revision, have an option to redeem or switch their units between March 3, 2011 and April 1, 2011, without paying any exit load.
Investors, who do not redeem or switch out, the current value of their holding as on April 1, 2011 will be converted into units of respective scheme, by allotting units at the applicable NAV as on April 2, 2011.