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Sebi restores pre-coronavirus cut-off time for mutual fund transactions

The timings were revised during the lockdown due to the coronavirus pandemic

Topics
Sebi | Mutual funds MFs | mutual fund industry

Press Trust of India  |  New Delhi 

Sebi

regulator has restored the cut-off timing for buying and selling of mutual fund units to 3 pm from Monday.

The timings were revised during the lockdown due to 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 in this regard," the regulator said in a letter to industry body Amfi on Friday.

The change would be effective from Monday, November 9, it added.

Further, all asset management companies (AMCs) have been asked to issue a public notice highlighting the change in cut-off timings. Also, they need to publish about the timings prominently on their websites.

The regulator, last month reinstated the cut-off timing for transactions in equity mutual fund units to 3 pm. However, the existing truncated cut-off time continued for debt and conservative hybrid funds.

Earlier in April, had reduced cut-off time for subscription and redemption of mutual funds, including liquid and overnight schemes due to coronavirus pandemic.

The regulator had reduced cut-off time for availing the same day's net asset value (NAV) for mutual fund schemes to 1 pm from 3 pm. For liquid and overnight funds, the time was advanced to 12.30 pm from 1.30 pm.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, November 06 2020. 22:38 IST
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