You are here: Home » Markets ยป Mutual Funds
Business Standard

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 ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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