Birla Sun Life MF starts merging process of ING MFs

Birla Sun Life MF has given an exit option to the unit holders of ING MF

Sep 09, 2014 10:09 IST India Infoline News Service

Birla Sun Life Mutual Fund has begun the process of merging all the schemes of ING Investment Management India with its own portfolios, according to a public notice.

Birla Sun Life MF will merge all the 26 schemes offered by ING MF with its own funds, the notice added.

Besides, Birla Sun Life MF has given an exit option to the unit holders of ING MF. "The option to exit the schemes without any exit load can be exercised from September 8 and is valid up to October 9. The option to exit is available to all unit holders except for unit holders who have pledged their units," as per the notice. The Board of ING Investment Management India, ING Trustee, Birla AMC and Birla Trustee have approved the merger and the market regulator Sebi has also given its nod to the proposed deal.

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