December 11, 2022
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The acquisition of IDFC AMC by Bandhan
The acquisition of IDFC AMC by Bandhan Financial Holdings Limited, Singapore’s sovereign wealth fund GIC and Indian private equity firm ChrysCapital has moved a step closer, with SEBI finally approving the change in ownership.
The names of funds are expected to change from January 2023 onwards.
Importantly, the AMC is offering a load-free exit window to investors of IDFC funds from December 05, 2022 to January 03, 2023, meaning investors can withdraw their money without paying any additional fees or penalty.
We would like to reiterate our ‘Best Buy’ and ‘Buy’ recommendations on these funds. Also, investors of these funds need not exercise the exit window if these funds continue to be suitable for their investment needs.
That said, there are quite a few IDFC funds on our ‘Sell’ list, which can be found here. If you hold any of these funds, this can be an opportunity to exit them without any load implications.