MFIs/MFDs/RIAs/RFDs are hereby informed that April 01, 2024, will be a non-business day for Debt and Liquid Funds on account of Annual Bank Closure Day.
Subscription orders executed in Debt, Liquid Mutual Fund schemes and L1 and L0 category of schemes shall be accepted on April 01, 2024, 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 April 01, 2024, and in the Order Status Report, as April 02, 2024.
Further subscription orders for Equity category of schemes shall be accepted on April 01, 2024, and will be reported to the respective Registrars on transaction day post successful funds receipt/matching, and all such orders shall be available in the Provisional Order Report as well as Order status Report of April 01, 2024
In view of the holiday announced by RBI on account of annual closure activity, the funds settlement for Equity based transactions to AMC’s bank accounts on April 01, 2024, may also get impacted. Thus, Equity based orders received & settled on April 01, 2024, shall also be forwarded to RTA / AMC for their processing on the same day i.e. April 01, 2024, subject to fund confirmation received within applicable cut-off (Orders will get processed for applicable NAV). ICCL shall transfer the funds on best effort basis immediately as soon as the banking systems are enabled. In view of this investors will get the applicable NAV i.e. April 02, 2024 for orders placed by them after 2:30 pm of March 28, 2024 till 2:30 pm on April 01, 2024.
Redemption and switch transactions pertaining to Equity, Liquid and Debt schemes received on April 01, 2024, on BSE StAR MF platform will be reported to the respective RTA/AMC on April 01, 2024. The redemption proceeds for all Liquid and Debt schemes transactions shall accordingly be received as per the TAT from that day. The valid redemption transactions pertaining to Equity based transactions shall be processed for NAV of April 01, 2024.
The details of the NAV applicability for unit allotment / redemption pay-out for all schemes for transaction date April 01, 2024, are provided in the attached Annexure.
In case of any further changes, the exchange shall inform the members accordingly.
Regards,
Mehul Parikh Jayesh Ashtekar
Additional General Manager AGM – MF Settlement
MF Settlement |