Asset management company DHFL Pramerica has announced a merger of 4 of its schemes. As per the announcement, DHFL Pramerica Hybrid Debt Fund will be merged into DHFL Pramerica Equity Savings Fund and DHFL Pramerica Tax Plan will be merged into DHFL Pramerica Long Term Equity Fund.
The merger results in changes in the fundamental attributes of the concerned schemes. Thus, the investors who have any objection with the proposed merger can exercise their option to exit the concerned scheme.
The exit option will be available to all the unit holders of the concerned schemes as per the records of Karvy Fintech (the registrar) as at the close of business hours on June 25, 2019. The option to exit without exit load can be exercised from June 29, 2019 to July 28, 2019 (both days inclusive) within the respective scheme cut-off timelines.
All transaction requests received after July 28, 2019 will attract exit load as may be prevailing at that time in the respective schemes. Also, the unit holders who do not opt for redemption on or before July 28, 2019 shall be deemed to have consented to continue with their investment in the transferee schemes.
Moreover, the investors who have registered for the Systematic Investment Plan (SIP) mode of investment in the transferor schemes and who do not wish to continue their future investments in the transferee schemes need to apply for cancellation of their SIP registrations in order to avoid future SIP payouts.
