MASTER MIND FINNASSET: SBI announces restructuring and merger of schemes

Wednesday, September 12, 2012

SBI announces restructuring and merger of schemes

The restructuring & merger will be effected on 5 October 2012

SBI Mutual Fund has decided to restructure SBI Magnum Income Plus Fund – Savings Plan into SBI EDGE Fund and merge SBI Magnum NRI Investment Fund – Flexi Asset Plan into SBI EDGE Fund in the interest of all the unitholders in the respective schemes and in order to benefit from better economies of scale that will allow for more efficient management of these funds.

In case the unit holders do not agree to the same, they have the option to redeem / switch your units at the applicable NAV (as on the date of receipt of your application for redemption / switch), without payment of any exit load (if applicable otherwise). This option to exit without payment of exit load can be exercised within 30 days from September 06, 2012 to October 05, 2012 (both days inclusive) upto 3.00 p.m. The redemption / switch requests may be submitted at any of the Investor Service Centers / official points of acceptance designated by SBI Mutual Fund. The restructuring & merger will be effected on October 05, 2012.

Unitholders, who have pledged or encumbered their units will not have the option to exit unless they procure a release of their pledges / encumbrances prior to the submission of redemption / switch requests. The aforesaid changes may entail tax consequences to unitholders. Therefore, unitholders are requested to consult their Legal, Tax, Finance and other Professional Advisors.

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