Hi,
I understand this fund is merged and now doesn’t allow any new purchases. But I am having hard time on what should I do with existing units held of this fund?
As per the economicstimes article:
"The fund house, in a communication sent to investors, said that on the effective date of merger of the schemes, the existing schemes shall cease to exist and the unit holders will be allotted units under the corresponding option of the new scheme at the last available applicable Net Asset Value. "
There are no update from AMC, couldn’t see any mail, is it because of dematerialised holding of fund. I am assuming such a critical change AMC must have notified many of customer but not to users who has hold as demat like from Coin.
Also, NAV on coin is reflecting price as on 1st-June-2018. I understand this is happening for many of you (as per another thread on this). Do I need to raise a ticket for this, I hoped this would have been handled without customer escalation or ticket creation.
What is my next right step, should I redeem and buy similar high-ranked hybrid scheme by putting one shot lump-sump of current unit values? On redemption, since I do SIP, I’ll be liable for short-term taxes, right?
Should I wait, my existing unit would get auto adjusted with newly formed fund? (as per above declaration)
Really appreciate any help/direction on this.
-Thanks