Coin :: How to manage closer of HDFC Balanced Fund

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

Thank Zerodha Support for resolving this, I really appriciate auto ticket creation and resolving issue!!
I could see updated Fund and Unit both.

From Zerodha Support:

This is to inform you that, SEBI had, in October 2017, issued guidelines defining mutual fund categories. In response to this circular, AMCs are fitting their schemes into these defined categories. This exercise has led to name changes, category changes or changes in other fundamental attributes of schemes and with respect to this HDFC Balanced Fund has been changed to HDFC Hybrid Equity Fund. The units have been updated and we request you to create a SIP for the HDFC Hybrid Equity which is reflecting in your portfolio.

To create a SIP for the same, kindly click on that particular fund >> Which will redirect you to the fund page >> Click on Direct SIP tab >> Enter the details >> Start SIP from today.

We apologize for the inconvenience that has been caused to you. Since the mergers for various schemes was conducted on a massive scale in the month of May and June this year, the updated the units for few clients were not reflecting correctly in their portfolio. We have rectified this issue in your case and request you to kindly verify the same in your portfolio now."