E-Paper
Cut-off time for equity MFs to be restored from Monday: AMFI
AMFI Chairman tweets to announce SEBI has granted its request to restore cut-off timing for buying and selling of equity mutual fund units to 3 pm from Monday
Capital markets regulator Securities and Exchange Board of India(SEBI) will restore the cut-off timing for buying and selling of equity mutual fund units to 3 pm from Monday, according to industry body Association of Mutual Funds in India (AMFI)
However, the existing truncated cut-off time would continue for debt and conservative hybrid funds.
In a tweet, AMFI Chairman, Nilesh Shah, said cut-off timing for both subscription and redemption for all schemes other than those categorised as debt schemes and conservative hybrid fund is being restored to original cut-off timing of 3 pm, effective from October 19. The move comes following a request by the industry body
Earlier in April, SEBI 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.
The Reserve Bank of India (RBI) in April had reduced debt and currency market hours permitting trades only from 10 am to 2 pm.
