ENB is an open-ended scheme tracking Nifty Bank Index and ELM250 is an open-ended equity scheme replicating Nifty LargeMidcap 250 Index managing assets worth Rs 2 crore and Rs 50 crore respectively as on June 30, 2023. The record date for the merger is August 7, 2023.
The two schemes will be merged and Edelweiss Nifty Large Midcap 250 Index Fund will be the surviving scheme. The merger will be treated as a change in fundamental attributes of the merging scheme and surviving scheme.