Members are hereby informed that we have received communication from HSBC Mutual Fund regarding merger of certain schemes of HSBC Mutual Fund schemes with corresponding schemes of L&T Mutual Fund and merger a few schemes of L&T Mutual Fund with corresponding schemes of HSBC Mutual Fund. Post-Acquisition of L&T Mutual Fund by HSBC AMC, the scheme names will be changed to “HSBC” wherever applicable as per Annexure I & II attached.
As per the communication received from HSBC Mutual Fund, certain schemes shall be merged into L&T Mutual Fund & subsequently scheme name changes will be done at HSBC Mutual Fund (Annexure II - Scheme Name Changes is attached).
Further, as per the communication received from HSBC AMC investor who are not in favour of the above scheme merger can redeem their investments or switch to other Schemes of HSBC Mutual Fund available for subscription without payment of exit load within from October 21, 2022 to November 21, 2022 on BSE StAR MF platform.
Also, as confirm by HSBC AMC, the existing SIP/XSIP/STP/SWP/ASTP will continue to get processed in the Transferor schemes as per Annexure attached.
As per the instructions received from HSCB AMC, fresh/new units allotted at AMC/RTA end in HSBC merger & scheme name changes schemes during the exit option period and redeemed prior to exit load free period i.e. October 21, 2022 to November 21, 2022 then applicable load will be charged from AMC end.
The notice cum addendum issued by HSBC AMC is attached.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Dy. General Manager – Mutual Funds |