DBS
Chola Mutual Fund has announced that there shall be change in the
control of DBS Cholamandalam Asset Management Limited (DCAM) and DBS
Cholamandalam Trustees Limited (DCTL), subject to complying with the
necessary regulatory requirements. Consequent to these changes, DBS
Chola Mutual Fund shall be renamed as L&T Mutual Fund, DCAM shall
be renamed as L&T Investment Management Limited and DCTL shall be
renamed as L&T Mutual Fund Trustee Limited.
Cholamandalam
DBS Finance Limited (CDFL), existing Sponsor of the DBS Chola Mutual
Fund has entered into a MOU with L&T Finance Limited (LTF) for sale
of its Asset Management Business. This divestment includes the sale of
100% equity shares of DCAM held by CDFL to LTF, 100% equity shares of
DCTL held by CDFL to LTF and transfer of DBS Chola Mutual fund and all
the schemes floated by the Fund.
The following existing schemes of DBS Chola Mutual Fund shall be renamed as under with effect from 16 February 2010 .
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Existing Name of the Scheme
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Proposed Name of the Scheme
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Debt Schemes
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DBS Chola Triple Ace Fund
|
L&T Triple Ace Fund
|
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DBS Chola Freedom - Short Term Fund
|
L&T Freedom - Short Term Fund
|
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DBS Chola Short Term Floating Rate Fund
|
L&T Short Term Floating Rate Fund
|
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DBS Chola Liquid Fund
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L&T Liquid Fund
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DBS Chola Monthly Income Plan
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L&T Monthly Income Plan
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DBS Chola Gilt Fund
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L&T Gilt Fund
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DBS Chola Select Income Fund
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L&T Select Income Fund
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Equity Schemes
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DBS Chola Opportunities Fund
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L&T Opportunities Fund
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DBS Chola Hedged Equity Fund
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L&T Hedged Equity Fund
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DBS Chola Midcap Fund
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L&T Midcap Fund
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DBS Chola Growth Fund
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L&T Growth Fund
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DBS Chola Tax Saver Fund
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L&T Tax Saver Fund
|
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DBS Chola Multi-Cap Fund
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L&T Multi-Cap Fund
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DBS Chola Contra Fund
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L&T Contra Fund
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DBS Chola Global Advantage Fund
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L&T Global Advantage Fund
|
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DBS Chola Tax Advantage Fund - Series I
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L&T Tax Advantage Fund - Series I
|
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DBS Chola Infrastructure Fund
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L&T Infrastructure Fund
|
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DBS Chola Small Cap Fund
|
L&T Small Cap Fund
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Unitholders can exit without exit load at applicable NAV during the exit period commencing from 15 January 2010 to 15 February 2010 (inclusive of both days). This offer of exit shall not be available after the closing hours (3.00 p.m. ) of 15 February 2010 .
Change
in name of the Schemes will not result in any change in the basic
characteristics and fundamental attributes of the Schemes, including
the investment objective of the respective Schemes.
Unitholders who do not opt for redemption on or before 15 February 2010 shall be deemed to have consented to the changes.