SEBI registration no. : ARN-113510
Expiry : 3rd AUG 2025
IRDA license no. : IMF186644360120180192
Expiry : 24th JAN 2027
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Planning to buy or sell off mutual fund units and confused about the pricing or the NAV that will be applicable? Not to worry.
The Securities and Exchange Board of India (SEBI) keeping in mind consumer interest has come out with cut-off timings that can make things easier for you. Check out the following:
If you are planning to purchase units and if it is through a local cheque the cut-off timing is 3 pm which means you can be sure to get the NAV of the same day.
If the mutual fund office receives your cheque after 3.p.m note that the NAV of the next day will be applicable.
Also your application for purchase or redemption of units should be stamped on the back as well as on the face of it with the date, the serial number and the timing clearly mentioned.
In case yours is an outstation cheque and not payable at par at the place where it is received the closing NAV of the day on which the cheque is credited shall be applicable.
Also any loss in NAV due to delays caused will have to be made good by the AMC states SEBI and this is applicable to redemptions also.
In case of purchase of liquid schemes the cut off timing applicable shall be the closing NAV of the day immediately previous to the day on which funds are available for utilisation by the fund. If the AMC receives the application after 1 p.m. the NAV of the same day shall be applicable.
Similarly in case of redemption of liquid schemes, valid applications received up to 10:00 am, the previous day’s closing NAV shall be applicable and for valid applications received after 10:00 am, the same day’s closing NAV shall be applicable.
Besides mutual fund companies will soon have to state the average assets under management in their monthly reports as also the total number of investors.
SEBI registration no. : ARN-113510
Expiry : 3rd AUG 2025
IRDA license no. : IMF186644360120180192
Expiry : 24th JAN 2024
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