JM Mutual Fund has announced merger of JM Ultra Short Duration Fund, JM Money Market Fund and JM Short Term Fund into JM Low Duration Fund. According to the fund house, the current situation arising out of the COVID-19 pandemic and the resultant redemptions along with other factors like the economic downturn, interest rate volatility and credit stress is making it very difficult to mobilize assets in the smaller schemes. Accordingly, in the interest of unitholders, it has been decided to merge the smaller schemes into a larger scheme.