Their exit plan got botched up, I think. They were trying to sell the whole Reliance AMC to Nippon but there was some problem and Nippon was only able to buy 43% stake. Reliance Mutual Fund's offer for sale fails to garner full subscription Nippon Life to buy 43% stake in Reliance MF for 70 billion yen: Nikkei Your funds will continue to exist in your account even after the AMC is handed over. Thankfully, money doesn't disappear even when the AMC is liquidated. Either they will hand over the management to Nippon or they will be made to issue a cheque to their investors if they shut everything down.