In India, 40 Asset Management Companies (AMCs) or mutual fund houses operate. Out of these 40 AMCs, there has been a merger between IDBI Mutual fund and LIC Mutual fund on July 29th 2023. In this document, we will explain all the changes due to this merger and how this will affect the investors.Typically, two types of changes have happened:Some IDBI funds were renamed to LIC funds. It is merely a name change. No change in NAV. No change in investment value.Some funds of IDBI are merged with LIC funds, which means NAV will be recomputed while the investment value does NOT change.Along with the above 2 changes, some details of the surviving funds (funds that remained after the merger),…
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Source: https://cleartax.in/s/merger-of-idbi-with-lic-mutual-fund