ICICI Prudential AMC Announces Merger of 2 Mutual Fund Schemes Effective November 14, 2025

ICICI Prudential Asset Management Company (AMC) has announced the merger of ICICI Prudential CRISIL-IBX AAA Bond Financial Services Index - Dec 2026 Fund with ICICI Prudential Corporate Bond Fund. The merger follows approvals by the Boards of ICICI Prudential AMC and ICICI Prudential Trust, marking a strategic consolidation of debt schemes under the mutual fund house.

Details of the Scheme Merger of ICICI Prudential

The Board of Directors of ICICI Prudential AMC approved the merger on June 26, 2025, while ICICI Prudential Trust granted approval on June 24, 2025. The record date for the merger has been set as October 08, 2025, and the merger will take effect at the end of business hours on November 14, 2025. Investors holding units of the merging scheme as on the record date will receive equivalent units in the surviving scheme.

Impact and Key Features

The merger involves the ICICI Prudential CRISIL-IBX AAA Bond Financial Services Index - Dec 2026 Fund (merging scheme) being absorbed into the ICICI Prudential Corporate Bond Fund (surviving scheme). All features, investment objectives, and terms of the surviving scheme will remain unchanged after the merger. The consolidation is expected to streamline operations and enhance fund efficiency while maintaining consistency in investment strategy.

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Investor Communication and Compliance

ICICI Prudential Mutual Fund has issued an addendum to the Scheme Information Documents (SIDs) and Key Information Memorandums (KIMs) of both schemes to reflect the merger. This notice forms an integral part of the official documents, to be read in conjunction with previous addendums. Unitholders are advised to review the revised documentation for updated scheme details and implications.

Conclusion

The merger of ICICI Prudential’s 2 bond schemes aligns with the fund house’s objective of simplifying its product portfolio and improving fund management efficiency. With the ICICI Prudential Corporate Bond Fund continuing as the surviving scheme, investors can expect continuity in investment objectives and portfolio management practices post-merger.

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