New NAV rule applicability date from 2021 January 1 to February 1: SEBI extends..!
According to SEBI’s new mutual fund NAV (Net Asset Value) rules, barring liquid and overnight funds, investors would get NAV once the money reaches the fund house irrespective of the investment amount.
SEBI has extended the
applicability date on new NAV rules from January 1, 2021 to February 1, 2021.
According to
SEBI’s new NAV rules, barring liquid & overnight funds, investors would get
NAV once the money reaches the fund house irrespective of the investment amount
from January 1, 2021. Now fund houses have time till February 1 to follow these
rules.
So far, investors
get the same day NAV if they invest up to Rs. 2 lakh before the cut off time.
When the new NAV rules become effective, investors will continue to get
previous day NAV irrespective of investment amount if they give purchase
request before cut-off time in liquid and overnight funds. However, this will
not be the case for other funds.
For other
categories of mutual funds, investors will get NAV upon realization of funds by
the AMC.
Therefore, even if
your client has invested his money in the morning but for some reason the money
does not reach the fund house before cut-off time, the investor will not get
same day NAV.
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