Mutual Fund Update: Tentative reduction in MF cut off timings
Reserve Bank of India’s (RBI) reduced trading hours for money markets and foreign markets. Therefore, in line with it, mutual funds have reduced the cut-off timings for subscription as well as redemption. This will remain effective until further notice.
The reduced cut-off timings for a mutual fund is as below:
For subscription:
– Liquid and Overnight Funds → 12:30 PM.
– Other than Liquid and Overnight Funds → 01:00 PM.
For redemption:
– Liquid and Overnight Funds → 01:00 PM.
– Other than Liquid and Overnight Funds → 01:00 PM.
However, it is to be noted that, all other provisions pertaining to Securities and Exchange Board of India’s (SEBI) Mutual Funds Regulations with respect to the applicability of Net Asset Value (NAV) for subscriptions and redemptions would remain unchanged.