MFIs/MFDs/RIAs are hereby informed that we have received communication from HSBC Mutual Fund regarding merger of HSBC Dynamic Asset Allocation Fund (Transferor Scheme) into HSBC Large Cap Equity Fund (Transferee Scheme). The merger shall be effective from December 29, 2018.
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 28, 2018 .
Further, as per notice cum addendum issued by HSBC AMC, the investor who are not in favour of the above scheme meger can redeem their investments or switch to other Schemes of HSBC Mutual Fund available for subscription without payment of exit load within a period of 30 days starting from November 29, 2018 to December 28, 2018 (Both days inclusive) through BSE star MF platform.
Also, as confirm by HSBC AMC, the existing SIP/XSIP/STP/SWP will continue to get processed in the Transferor scheme i.e. under HSBC Dynamic Asset Allocation Fund.
Further, with effect from December 29, 2018 the Transferor schemes shall cease to exist & SIP/XSIP/STP/SWP registered will get shifted to Transferee scheme i.e. HSBC Large Cap Equity Fund.
The details of the schemes are attached in Annexure.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Fund Assistant General Manager – Mutual Funds |