Merger of Franklin FMCG and Franklin Pharma into Franklin India Prima Plus

With effect from 9 September 2011, Franklin Templeton Mutual Fund has announced that Franklin FMCG Fund (FFF) and Franklin Pharma Fund (FPF) would be merged into Franklin India Prima Plus (FIPP), Consequently, from the date of merger i.e., effective 9 September 2011, the investors of FFF and FPF would become investors of FIPP in the respective plans / options.

In terms of prevailing regulatory requirements, investors in FFF and FPF are given an option to exit at the prevailing Net Asset Value without any exit load, in case they do not wish to approve the merger. The period of this no load exit offer is valid from 8 August 2011 to 9 September 2011.

All systematic transactions including Systematic Transfer Plan (SIP), Systematic Transfer Period (STP), Dividend Transfer Period (DTP) or Systematic Withdrawal Plan (SWP) will continue under Prima Plus for its balance tenure subsequent to the merger.
If investors do not wish to continue the systematic transactions under Prima Plus, they are required to intimate the fund house in writing their unwillingness to continue the said facilities post merger latest by September 9, 2011.

JM Nifty Plus Fund and JM Emerging Leaders Fund are getting merged with JM Equity Fund and JM Multi Strategy Fund respectively on 29/07/2011

JM Financial Mutual Fund has announced merger of JM Nifty Plus Fund into JM Equity Fund and JM Emerging Leaders Fund into JM Multi Strategy Fund, with effect from July 29, 2011.


 Details of the Options proposed to be merged are as follows:
• Dividend Option under merging scheme would be merged into JM Equity Fund – Dividend option and would be renamed as JM Equity Fund - Dividend option.
• Growth Option under merging scheme would be merged into JM Equity Fund – Growth Option and would be renamed as JM Equity Fund - Growth option
• Dividend Option under merging schemes would be merged into JM Multi Strategy Fund – Dividend option and would be renamed as JM Multi Strategy Fund - Dividend option.
• Growth Option under merging schemes would be merged into JM Multi Strategy Fund – Growth Option and would be renamed as JM Multi Strategy Fund - Growth option.

For the unitholders who do not redeem/ switch out, the current value of their holding in merging scheme as on July 29,2011, their holding will be converted into units of the surviving scheme at the applicable NAV as on July 29, 2011, after deduction of applicable withholding tax (in case of NRIs).

Merger of various equity schemes: Six fund houses have merged schemes from within their stable.

The Securities and Exchange Board of India (SEBI), has recently come out with a circular easing the merger norms of mutual fund schemes. Since January 2010, six fund houses have merged schemes from within their stable. The table shows some of the major mergers.

Also check

Merger of Franklin FMCG and Franklin Pharma into Franklin India Prima Plus (septermber 9, 2011)

Merger of various equity schemes: JM Financial Mutual Fund

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.