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LIC Mutual Fund Asset Management has informed that in terms of Notice Cum Addendum number 16 of 2023-24 dated 16th June 2023 (referred to as ‘said Notice’) issued by LIC AMC, all the schemes of IDBI MF shall stand transferred to LIC MF on and from July 29, 2023 (‘Completion Date’). Pursuant to the same: 1) IDBI MF Trustee Company (‘IDBI Trustee’) shall transfer the trusteeship of all the schemes of IDBI MF (‘IDBI MF Schemes’) (along with all assets and liabilities, including any unclaimed dividends/ redemptions, the load balances, if any, any balance in the investor education fund and all records relating thereto, concerning the IDBI MF Schemes) to LIC Mutual Fund Trustee (‘LIC Trustee’). LIC Trustee would become the new trustee of the IDBI MF Schemes under the LIC Trust Deed. 2) IDBI Asset Management (‘IDBI AMC’) shall transfer the rights to manage, operate and administer all the IDBI MF Schemes to LIC AMC. LIC AMC would become the new asset management company in respect of the IDBI MF Schemes. 3) IDBI Sponsor would cease to be the sponsor of the IDBI MF Schemes and Life Insurance Corporation of India (‘LIC’) shall assume sponsorship of the IDBI MF Schemes which shall be considered as an integral part of LIC MF and 4) Transfer of IDBI MF Schemes on a going concern and as is basis and merger between the identified IDBI MF Schemes with identified schemes of LIC MF.