ELSS Fund - Aditya Birla Sun Life Tax Savings Fund merges into ABSL Tax Relief ’96..! - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Sunday, April 22, 2018

ELSS Fund - Aditya Birla Sun Life Tax Savings Fund merges into ABSL Tax Relief ’96..!


ELSS Fund -  Aditya Birla Sun Life Tax Savings Fund merges into ABSL Tax Relief ’96..!

Aditya Birla Sun Life Mutual Fund has decided to merge their two tax-saving schemes to comply with mutual fund sector regulator SEBI’s new norms of mutual fund categorisation.
The mutual fund company released a notice announcing the merger of Aditya Birla Sun Life Tax Savings Fund into Aditya Birla Sun Life Tax Relief ’96.
Both the schemes were tax-saving schemes  (ELSS) with a 3 year lock-in period
The effective date of this merger will be May 21, 2018
 After the merger, Aditya Birla Sun Life Tax Relief ‘96 will remain an ELSS scheme with a target allocation of 80% equity and 20% debt and money market securities.
“In terms of prevailing regulatory requirements, unitholders of the Merging Scheme are given an option to exit i.e. redeem their units or /  switch to any other scheme(s) of Aditya Birla Sun Life Mutual Fund by submitting request for redemption or switch to any of existing schemes of the Fund at the prevailing NAV without payment of exit load during exit option period from April 19, 2018 till May 18, 2018 (both days inclusive and up to 3.00 pm on May 18, 2018 at designated Official Points of Acceptance of Transactions of the Fund,” the company said in the notice.


ELSS Fund - Aditya Birla Sun Life Tax Savings Fund merges into ABSL Tax Relief ’96..! Reviewed by S. Chitra on April 22, 2018 Rating: 5 ELSS Fund -   Aditya Birla Sun Life Tax Savings Fund merges into ABSL Tax Relief ’96..! Aditya Birla Sun Life Mutual Fund has decided ...

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