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MFs to take stance on Nuvo-Grasim merger

Samie Modak & Dev Chatterjee  |  Mumbai 

The chief investment officers (CIOs) and fund managers of mutual funds - with exposure in Aditya Birla Nuvo Ltd (ABNL) and Grasim - are meeting in Mumbai to take a joint stand on the mega merger between Nuvo and Grasim.

According to sources in the mutual fund sector, the transaction prima-facie is negative for their unit holders and they would discuss the issue in their forthcoming meeting to be called under the umbrella of Association of Mutual Funds in India. "The meeting is being called so that our unit holders do not face any loss. We have a fiduciary duty towards our respective ...

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First Published: Tue, August 30 2016. 22:49 IST