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Thread: Reduction in STT will witness merger of mutual fund schemes in coming months

  1. #1

    Reduction in STT will witness merger of mutual fund schemes in coming months

    The Security Transaction Tax (STT) is reduced by 0.01% to 0.25% for mutual funds and this has further reduced the merger costs for the mutual funds. This reduction has induced mergers in the mutual fund schemes in the recent months. The 14 mutual fund schemes have been already merged from the month of July after the reduction in STT coming into effect from June.

  2. #2
    HDFC Mutual Fund has launched a new plan named as HDFC Fixed Maturity Plan 540D December 2013 (1), a plan under HDFC Fixed Maturity Plans - Series 28 (a close-ended income scheme). The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 4 December to 9 December 2013.

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