MFIs/MFDs/RIAs are hereby informed that we have received communication from TATA Mutual Fund regarding merger of Tata Corporate Bond Fund (Transferor Scheme) into Tata Short Term Bond Fund (Transferee Scheme). The merger shall be effective from December 14, 2019.
Consequently, fresh subscription through lumpsum investment/Switch In//STP In/SIP shall not be accepted in the Transferor scheme after the close of business hours on November 11, 2019.
Further, as per notice cum addendum issued by TATA AMC, the investor who are not in favour of the above scheme merger can redeem their investments or switch to other Schemes of TATA Mutual Fund available for subscription without payment of exit load within a period of 30 days starting from November 13, 2019 to December 13, 2019 (Both days inclusive) through BSE star MF platform.
Also, as confirm by TATA AMC, the existing SIP/XSIP/STP In will not continue to get processed from November 12, 2019 till December 13, 2019 in the Transferor scheme i.e. under Tata Corporate Bond Fund.
Further, with effect from December 13, 2019 the Transferor schemes shall cease to exist & SIP/XSIP/STP/SWP registered will get shifted to Transferee scheme i.e. Tata Short Term Bond Fund after the close of business hours on December 13, 2019.
The details of the schemes are attached in Annexure.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Asst. General Manager – Mutual Funds |