MFIs/MFDs/RIAs are hereby informed that we have received communication from L&T Mutual Fund regarding rrestriction on subscription in L&T MONEY MARKET FUND on BSE StAR MF Platform with effect from June 07, 2019.
Further, as intimated by AMC, Lump sum purchase (Fresh, Additional, Switch) shall be accepted upto Rs. 25 lac/- per application.
However, Transactions received prior to June 07, 2019 for which clear funds are received before the effective date shall be processed.
Points to be noted:-
1. Subscriptions/Switch-Ins in the Scheme amounting to more than Rs.25 Lakhs per day per investor (at Pan Level) will not be accepted.
2. New Registrations under Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) in the Scheme of a Single Installment amounting to more than Rs.25 Lakhs will not be accepted.
If the amount more than 25 lakhs is received then refund will get initiate as per the process set.
The fresh Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) with as the target scheme shall be accepted up to Rs. 25 lac/- per instalment for L&T MONEY MARKET FUND each SIP and STP registered.
The notice cum addendum issued by L&T AMC is attached.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Assistant General Manager – Mutual Funds
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