I am hearing in the news, IDFC AMC is looking for buyers. If some other AMC say Axis/Nippon/Sundaram is going to buy it, all duplicate schemes will be merged to single one. will this applicable for ELSS schemes too considering it has lock-in period of 3 years
Not sure about exact process, but this happened to me recently, when Principal MF was taken over by Sundaram MF
I held very old investment in Principal MF personal tax saver fund, earlier this month it got converted to a new investment in Sundaram Tax saving fund, with a new lock in of 3 years.
So yes, ELSS schemes are merged into one, and a new lock in of 3 years start.