MFIs/MFDs/RIAs are hereby informed that May 16,2022 will be a non-business day for Debt and Liquid Funds on account of Buddha Purnima. The subscription orders in all the Debt, Liquid Mutual Fund schemes and L1 and L0 category of schemes shall be accepted on May 16,2022 and will be reported to the respective Registrars on the next business day. The orders shall be available in the Provisional Order Report with Order date as May 16, 2022. Also, in the Order Status Report, the order date shall be available as order date as May 17,2022.
NAV applicability for unit allotment / redemption pay-out for said category of scheme transactions are provided in attached Annexure
The Redemption’s/Switch’s/STP’s orders in all categories of scheme shall be accepted and reported to the respective Registrars on May 16, 2022.
In view of the same, we request the MFIs/MFDs/RFIs to note the following:
1. MFIs/RFIs needs to upload the funds confirmation (FC) file pertaining to the Equity based SIP transactions on May 16,2022 till 2:32 PM, to allow ICCL to debit the Settlement pool account of the members and transfer the funds to the respective AMC’s before the deadline time of 3:00 PM for the Equity schemes. The FC file pertaining to Debt and Liquid based SIP transactions, if uploaded on May 16, 2022, shall be reported to the concerned RTA’s on the next business day.
2. MFIs/RFIs to note that ICCL shall debit the Settlement pool account of the members for valid Lumpsum transactions executed/available on May 16,2022 as per settlement timings provided below to transfer the funds to the respective AMC’s before the deadline time of schemes.
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Process No
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Order placement deadline time
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Order cancellation cut-off time
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Settlement Process commencement time
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1
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1:00 PM
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1:02 PM
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1:02 PM
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2
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1:45 PM
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1:47 PM
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1:47 PM
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3
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2:30 PM
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2:32 PM
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2:32 PM
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3. We may inform MFIs/RFIs that the system will not reject the SIP orders pertaining to Equity, Debt and Liquid schemes for which the FC file is not uploaded on May 16,2022 till 2:32 PM, they can opt to upload the FC file for these transactions on May 17,2022 along with the transactions of May 17, 2022.
4. MFDs/RFDs may note that the funds received for Liquid (L0) based schemes till 1:00 PM, Debt schemes till 2:30 PM shall be transferred to the AMC’s on May 17, 2022.
5. The funds received for Liquid T1 type of transactions on May 16, 2022, will be given to the AMC’s in the 5th process on May 17, 2022, at 1:45 pm.
6. Members are requested to inform their clients to deliver the DIS pertaining to the Redemption and Switch orders placed by them for Demat transactions on May 16,2022 before 4:30 PM, failing which the underlying orders are bound to be rejected.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Dy. General Manager – Mutual Funds
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