ICICI Prudential AMC merges 3 debt mutual fund schemes, with ICICI Prudential Long Term Gilt Fund.

As per the fund house, ICICI Prudential Gilt Fund-Investment Plan-PF Option, ICICI Prudential Gilt Fund-Treasury Plan-PF Option and ICICI Prudential Short Term Gilt Fund will merger merge with ICICI Prudential Long Term Gilt Fund by May 28. These changes are a part of re-categorization and rationalization of mutual funds by SEBI.

The name of the surviving scheme will be changed to ICICI Prudential Gilt Fund. The new will be an open-ended debt scheme, investing in government securities across maturity. The new scheme is mandated to invest 80-100% of its assets in government securities across maturity and 0-20% in the other debt securities and money market instruments,

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