Mutual fund information: LIC Mutual Fund (LIC MF) has accomplished the takeover of schemes of IDBI Mutual Fund. With the completion of the merger, out of twenty schemes of IDBI MF, ten will probably be merged with related schemes of LIC MF and the remaining will probably be taken over by LIC MF on a standalone foundation.
These schemes will probably be taken over by LIC Mutual Fund
| IDBI MF Scheme identify | Proposed new identify for LIC MF scheme | Fund Supervisor |
|---|---|---|
| IDBI Gold Change Traded Fund | LIC MF Gold Change Traded Fund | Mr. Yash Dhoot |
| IDBI Gold Fund | LIC MF Gold ETF Fund of Fund | Mr. Yash Dhoot |
| IDBI Small Cap Fund | LIC MF Small Cap Fund | Mr. Yogesh Patil – Fund Supervisor Mr. Dikshit Mittal – Co Fund Supervisor |
| IDBI Midcap Fund | LIC MF Mid cap Fund | Mr. Karan Doshi – Fund Supervisor Mr. Dikshit Mittal – Co Fund Supervisor |
| IDBI Lengthy Time period Worth Fund | LIC MF Lengthy Time period Worth Fund |
Mr. Karan Doshi – Fund Supervisor Mr. Jaiprakash Toshniwal – Co Fund Supervisor |
| IDBI Fairness Financial savings Fund | LIC MF Fairness Financial savings Fund | Mr. Jaiprakash Toshniwal (Fairness & Arbitrage) Mr. Marzban Irani (Debt) |
| IDBI Healthcare Fund | LIC MF Healthcare Fund | Mr. Karan Doshi |
| IDBI Targeted 30 Fairness Fund | LIC MF Targeted 30 Fairness Fund | Mr. Jaiprakash Toshniwal |
| IDBI Nifty Junior Index Fund | LIC MF Nifty Subsequent 50 Index Fund | Mr. Jaiprakash Toshniwal |
| IDBI Dividend Yield Fund | LIC MF Dividend Yield Fund | Mr. Dikshit Mittal |
With this merger, buyers who’ve invested in IDBI MF schemes, will get entry to LIC MF’s diversified basket of product choices. The merger is efficient from July 29.
As of June 2023, LIC MF had an AUM of ₹18,400 crore, whereas IDBI MF had ₹3,650 crore.
Earlier in March 2023, the Competitors Fee of India (CCI) authorized the proposal of LIC Mutual Fund Asset Administration to amass administration rights over the schemes of IDBI MF from IDBI Asset Administration.
In 2019, LIC accomplished the takeover of IDBI Financial institution, the sponsor of IDBI Mutual Fund. Nonetheless, LIC has its personal asset administration firm, LIC Mutual Fund, beneath the Securities and Change Board of India (Sebi) guidelines.
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Up to date: 01 Aug 2023, 01:32 PM IST
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