Nippon India Mutual Fund (formerly Reliance Mutual Fund) has decided to wind up Nippon India Emergent India Fund with effect from July 29 without citing any reason.
Accordingly, the fund house have ceased to carry on any business activity, operations including issuance, creation and redemption of any units in the scheme.
"Nippon India Emergent Fund scheme has been wound up in the normal course of business and in terms of the prescribed regulatory guidelines. We continue to provide market access to our domestic & international investors through various avenues." says Nippon Life India Asset Management spokesperson.