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Merger of Mutual Funds

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  • Merger of Mutual Funds

    With the recent SEBI notofications to rationalise the various MFs, some funds have been merged into other funds. For example, the HDFC Prudence has been merged into HDFC Balanced Advantage Fund. Will MProfit Pro automatically carry out the merger or do I have to manually sell and buy. Also I think some of the names of MFs have not been changed to the new names yet in MProfit.

  • #2
    Dear PrithviMP,

    There is major name change across all mutual fund houses as per SEBI guidelines. Name change process has been initiated by us and will be completed in coming weeks. It will be automatic and you will not need to do anything.

    Many of the schemes have been merged. Merger process needs to be done manually.

    Please update your master database in order to get it.

    Click on Help > Check for Updates > Do normal master database updates. Restart MProfit 1-2 times.

    Please refer the sample forum link to add merger entry:

    Similar steps you can do for mutual fund.


    • #3
      Thank you. It worked out well.


      • #4
        There is no such facility for switch funds, eg, from dividend option to growth option. SO I presume it has to be a sale and purchase transaction


        • #5
          Dear PrithviMP,

          Switching from Dividend to Growth option is like selling from one scheme to another. This will be subjected to capital gains tax as well.


          • #6
            Thanks for the confirmation


            • #7
              Many mutual fund houses have merged their schemes to comply with Sebi's new re-categorisation norms for mutual funds. Many of these schemes are either merged into some existing scheme or merged with another existing scheme to form a new scheme.


              • #8
                Dear genkaplevis,

                You need to add merger details manually. Please refer the forum post to add merger entry:

                Similar way you can add the merger entry for mutual funds.