world is news

Cut-off time for mutual funds to be restored from Monday: Sebi

Spread the news

New Delhi: Markets regulator Sebi has restored the cut-off timing for getting and promoting of mutual fund items to three pm from Monday. The timings had been revised in the course of the lockdown because of the coronavirus pandemic.

“It is decided that the cut-off timings for applicability of NAV (Net Asset Value) for both subscription and redemption for all schemes, may be restored to normal cut-off timings on accordance with various circulars issued by Sebi in this regard,” the regulator stated in a letter to trade physique Amfi on Friday.

The change can be efficient from Monday, November 9, it added.

Further, all asset administration corporations (AMCs) have been requested to problem a public discover highlighting the change in cut-off timings. Also, they should publish in regards to the timings prominently on their web sites.

The regulator, final month reinstated the cut-off timing for transactions in fairness mutual fund items to three pm. However, the prevailing truncated cut-off time continued for debt and conservative hybrid funds.

Earlier in April, Sebi had diminished cut-off time for subscription and redemption of mutual funds, together with liquid and in a single day schemes resulting from coronavirus pandemic.

The regulator had diminished cut-off time for availing the identical day’s web asset worth (NAV) for mutual fund schemes to 1 pm from three pm. For liquid and in a single day funds, the time was superior to 12.30 pm from 1.30 pm.

Spread the news