Sebi has decided to restore the cut-off timings for applicability of NAV for both subscription and redemption for all mutual fund schemes other than those categorised as debt schemes and conservative hybrid fund to 3.00 p.m. effective from October 19, i.e., Monday. For debt schemes and conservative hybrid fund, the existing reduced cut off time will be continued till further notice by the RBI on truncated timings.
Sebi had changed the cut-off time for getting the same day’s net asset value (NAV) for schemes other than liquid and overnight funds from 3 pm to 1 pm in April due to the covid19 pandemic and subsequent disruptions to financial services. For liquid and overnight mutual funds, the cut-off time was changed from 1.30 pm to 12.30pm.
Effective from October 19, here are the cut-off timings for applicability of NAV for various categories of schemes :
> Liquid and overnight mutual funds
-- cut off timing in case of subscription ( purchasing a mutual fund) : 12:30 p.m.
-- cut off timing in case of redemption ( selling a mutual fund) : 1:00 p.m.
> Debt mutual fund schemes and conservative hybrid fund, other than liquid and overnight funds
-- cut off timing in case of subscription ( purchasing a mutual fund) : 1:00 p.m.
-- cut off timing in case of redemption ( selling a mutual fund) : 1:00 p.m.
> Equity mutual funds and all mutual fund schemes other than those mentioned above
-- cut off timing in case of subscription ( purchasing a mutual fund) : 3:00 p.m.
-- cut off timing in case of redemption ( selling a mutual fund) : 3:00 p.m.
