We are pleased to inform that SMART switch feature under NIPPON INDIA TAIWAN EQUITY FUND has been enabled on BSE StAR MF platform with effect from November 25, 2021 to December 02, 2021.
Further, MFIs/MFDs/RIAs are advised to take note of below points for their clients who wish to avail the SMART switch feature under NIPPON INDIA TAIWAN EQUITY FUND.
· SMART Switch feature is available through manual entry, web interface, APIs and bulk upload options.
· This feature is available only for the NIPPON INDIA MF below schemes plan & option provided.
A. NIPPON INDIA BANKING AND PSU DEBT FUND - DIRECT PLAN - GROWTH
B. NIPPON INDIA BANKING AND PSU DEBT FUND-REGULAR PLAN-GROWTH
C. NIPPON INDIA CORPORATE BOND FUND - DIRECT PLAN-GROWTH
D. NIPPON INDIA CORPORATE BOND FUND-GROWTH PLAN-GROWTH OPTION
E. NIPPON INDIA FLOATING RATE FUND - DIRECT PLAN-GROWTH
F. NIPPON INDIA FLOATING RATE FUND - DIRECT PLAN-GROWTH
G. NIPPON INDIA FLOATING RATE FUND - GROWTH PLAN
H. NIPPON INDIA LIQUID FUND - DIRECT PLAN - GROWTH
I. NIPPON INDIA LIQUID FUND - GROWTH PLAN - GROWTH OPTION
J. NIPPON INDIA LOW DURATION FUND - DIRECT PLAN - GROWTH
K. NIPPON INDIA LOW DURATION FUND - GROWTH PLAN GROWTH OPTION
L. NIPPON INDIA MONEY MARKET FUND - DIRECT PLAN - GROWTH
M. NIPPON INDIA MONEY MARKET FUND-GROWTH PLAN GROWTH OPTION
N. NIPPON INDIA OVERNIGHT FUND - DIRECT PLAN
O. NIPPON INDIA OVERNIGHT FUND - GROWTH PLAN
P. NIPPON INDIA SHORT TERM FUND - DIRECT PLAN - GROWTH
Q. NIPPON INDIA SHORT TERM FUND-GROWTH PLAN - GROWTH OPTION
R. NIPPON INDIA STRATEGIC DEBT FUND- DIRECT PLAN - GROWTH
S. NIPPON INDIA STRATEGIC DEBT FUND- GROWTH PLAN
T. NIPPON INDIA ULTRA SHORT DURATION FUND-DIRECT PLAN - GROWTH
U. NIPPON INDIA ULTRA SHORT DURATION FUND - GROWTH OPTION
Please refer annexure provided herewith for scheme credentials to have clear identification.
· If the investor has invested in Regular plan Growth option of NIPPON INDIA MONEY MARKET FUND schemes, then those units will be switched only in to the growth option of NFO scheme & same will be applicable for Direct plan Growth option too. Switch processing understanding provided in Annexure I.
· To accept subscription under SMART Switch feature we have enabled new schemes in scheme master as provided below.
A. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA BANKING AND PSU DEBT FUND - DIRECT PLAN – GROWTH
B. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA BANKING AND PSU DEBT FUND - REGULAR PLAN – GROWTH
C. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA CORPORATE BOND FUND - DIRECT PLAN – GROWTH
D. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA CORPORATE BOND FUND - GROWTH PLAN - GROWTH OPTION
E. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA FLOATING RATE FUND - DIRECT PLAN - GROWTH
F. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA FLOATING RATE FUND - GROWTH PLAN
G. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA LIQUID FUND - DIRECT PLAN – GROWTH
H. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA LIQUID FUND - GROWTH PLAN - GROWTH OPTION
I. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA LOW DURATION FUND - DIRECT PLAN – GROWTH
J. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA LOW DURATION FUND - GROWTH PLAN GROWTH OPTION
K. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA MONEY MARKET FUND - DIRECT PLAN – GROWTH
L. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA MONEY MARKET FUND - GROWTH PLAN GROWTH OPTION
M. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA OVERNIGHT FUND - DIRECT PLAN
N. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA OVERNIGHT FUND - GROWTH PLAN
O. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA SHORT TERM FUND - DIRECT PLAN – GROWTH
P. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA SHORT TERM FUND-GROWTH PLAN - GROWTH OPTION
Q. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA STRATEGIC DEBT FUND- DIRECT PLAN – GROWTH
R. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA STRATEGIC DEBT FUND- GROWTH PLAN
S. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA ULTRA SHORT DURATION FUND - DIRECT PLAN – GROWTH
T. NIPPON INDIA TAIWAN EQUITY FUND - NFO SMART SWITCH - NIPPON INDIA ULTRA SHORT DURATION FUND - GROWTH OPTION
· All purchase transactions received in system under NFO SMART Switch schemes will be processed as normal purchase as per the scheme name provided in Annexure II and will be reported to RTA on transaction day itself subject to fund confirmation uploaded/received.
· Members using direct APIs / API based platforms / bulk upload options are requested to use the proper scheme credentials depending on the investor’s investment requirement for the above-mentioned scheme.
· SMART Switch feature is available only for lumpsum subscription and shall be allowed for Non-Demat mode.
· Transactions under SMART Switch feature shall be allowed up to 2:30 pm on December 02, 2021.
· All purchase orders received in schemes under SMART Switch feature till 2:30 pm on December 02, 2021 and allotted successfully shall be automatically considered for ‘Switch -In’ to “NIPPON INDIA TAIWAN EQUITY FUND” as per Switch processing understanding provided above. All these switch transactions shall be reported to RTA on December 06, 2021.
· Members can identify the orders under SMART Switch in the Remarks column of Provisional order and Order status report at BSE StAR MF platform.
Process for 'Switch out' transactions under the NFO SMART Switch scheme at AMC/RTA end are provided as below.
· If an investor is already having existing units in the eligible scheme & done additional purchase under " NFO SMART Switch" plan then particular purchase units will be considered for Switch out and Switch out will be processed on FIFO logic.
V. Example: Investor A (having existing 50,000 units) in NIPPON INDIA MONEY MARKET FUND-GROWTH PLAN GROWTH OPTION, done additional purchase of Rs 1 Lac (75000 units appx) then, switch out will be processed only for 75,000 units and not for 125,000 that to in FIFO order i.e. 50,000 units from existing investment and 25,000 units from 75,000 units irrespective of valuation (Gain/Loss) on switch out date.
· If an investor done fresh purchase under " NFO SMART Switch" plan then particular purchase units will get considered for Switch out irrespective of valuation (Gain/Loss) on switch out date.
Example: Investor B done purchase of Rs 1 Lac (75000 units appx) then, switch out will be processed only for 75,000 units irrespective of valuation (Gain/Loss) on switched out date.
· If the orders are rejected or pending for final allotment from RTA, such orders shall not be considered for switch reporting.
· If an investor done partial/full redemption or switch out prior to SMART NFO switches triggered to AMC/RTA & investment balance amount under switch out scheme fallen below the SMART switch amount triggered to RTA on December 07, 2021 i.e. on last day of NFO closure then same shall not been considered for processing at AMC/RTA end.
Members can reach us through our Mutual fund Helpdesk numbers on 022-45720450 and 022-45720650 on business day between 8:00am to 7:00pm.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Dy. General Manager – Mutual Funds
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