Due to SEBI circular regarding scheme categorization, most of the mutual funds have done the following :

  1. Renamed some Schemes
  2. Merged some schemes with another existing scheme of the same AMC.
  3. Changed the Scheme Category
  4. Assigned a new benchmark to the schemes

For a complete list of all cases of renaming and merged schemes, please contact the respective AMC. We are collating this data also and shall also share with you soon.

Please note the following points in relation to the portfolio reports

  1. In case of a renaming of a scheme, there will be no change in the scheme returns, capital gains etc. It will just show the new name, and possibly a new Category.
  2. In case of a merger of scheme to another scheme, the units are being shown as MERGED or SWITCH OUT from the old scheme, and MERGED IN or SWITCHED IN to the New scheme (which may be an existing scheme with the same name or a new name)  : e.g. HDFC Prudence is now merged with HDFC BALANCED ADV FUND which was earlier named as HDFC GROWTH FUND.

In such a case, the investor DOES NOT INCUR a CAPITAL GAIN on the SCHEME being MERGED by the AMC.  We are taking care of this, and InvestWell Capital Gain Report will not display such SWITCH OUT Transactions in the CAPITAL GAIN Reports of the respective Year

The Portfolio Reports will carry the name of the NEW SCHEME where units are now Switched into. The investment date will be shown as the Date on which the MERGER happened and returns are being calculated accordingly.  Please inform your investors to not panic on seeing a different figure in the RETURNS column!

We are working out a method, to Display the ORIGINAL INVESTMENT DATE and AMOUNT so that the correct Returns and Holding Period can be shown in these reports.  This may take about 2 weeks. We shall update you once the update is released.

We are in the process of assigning the new scheme categories and provisioning for the same across all the reports. We hope to complete it by Jun 15th at most.

We shall keep you posted with updates in this matter.

Thank you and happy investing!