JS Investments approves merger of JS Value Fund with and into JS Growth Fund

MG News | July 30, 2021 at 04:48 PM GMT+05:00
July 30, 2021 (MLN): The Board of Directors of JS Investments Limited has approved the merger of JS Value Fund (the merging scheme) with and into JS Growth Fund (the surviving scheme).
According to the notice issued to Exchange, the management company of the subject funds also approved this merger.
However, it is subject to the approvals by the unitholders of the schemes, Securities and Exchange Commission and other regulatory requirements.
The net assets of JS Value Fund (JS VF) will be transferred to JS Growth Fund (JS GF) on the effective date to be announced by the management company in due course. As a consideration, the unitholders of JS VF will be issued units of JS GF based on the swap ratio of the effective date of the merger.
The management company believes that the merger will give the unitholders of surviving scheme to benefit from economies of scale due to lower expense ratio, resulting in fulfilling the investment objectives and policies more economically and efficiently.
As per the notice, the investment amount of all the unit holders will remain unaffected except for the impact of capital gain tax, where applicable. The units of the surviving scheme will be issued to the unitholders of the merging scheme (as consideration) in accordance with the swap ratio to be determined on the basis of the net assets of each of the schemes on the effective date,
The management company in due course will be presenting the subject scheme of merger to seek approval of the respective unit holders of these schemes in their separately convened meetings.
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 135,939.87 307.74M |
-0.41% -562.67 |
ALLSHR | 84,600.38 877.08M |
-0.56% -479.52 |
KSE30 | 41,373.68 101.15M |
-0.43% -178.94 |
KMI30 | 191,069.98 82.45M |
-1.17% -2260.79 |
KMIALLSHR | 55,738.07 422.01M |
-1.03% -577.24 |
BKTi | 38,489.75 45.79M |
-0.02% -8.33 |
OGTi | 27,788.15 6.87M |
-1.24% -350.24 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 116,880.00 | 120,695.00 116,090.00 |
-3355.00 -2.79% |
BRENT CRUDE | 68.79 | 69.41 68.60 |
-0.42 -0.61% |
RICHARDS BAY COAL MONTHLY | 96.50 | 96.50 96.50 |
0.50 0.52% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.25 |
-2.05 -1.92% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 |
0.00 0.00% |
CRUDE OIL - WTI | 66.65 | 67.13 66.22 |
-0.33 -0.49% |
SUGAR #11 WORLD | 16.56 | 16.61 16.25 |
0.26 1.60% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|