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Shinsei Mutual Fund is now Daiwa Mutual Fund

The shareholders of Shinsei Asset Management Co. Ltd have entered into an agreement to sell its stake to Daiwa Assets Management Co Ltd.(DAM) and Daiwa Securities group Inc. (DSGI), the parent company of DAM. DAM and DSGI will also, as a part of the proposed transaction, acquire Shinsei Trustee Company (India) Pvt. Ltd. the trustee company of SMF. of Daiwa.

 

Pursuant to proposed transaction, the name of SMF will be changed from "Shinsei Mutual Fund" to "Daiwa Mutual Fund". The AMC will be renamed as "Daiwa Assets Management (India) Pvt. Ltd. and the three schemes would be renamed accordingly with the effect from January 8, 2011.

 

The investors of the fund house are given an exit option on the prevailing Net asset Value (NAV) without any load on or before the close of business hours of January 7, 2011

 

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