Mirroring the RBI move of trimming trading hours in various markets till April 30, SEBI on Friday, decided to keep the revised subscription and redemption timings unchanged till April 30.
Mirroring the Reserve Bank of India’s (RBI) move of trimming trading hours in various markets till April 30, Securities and Exchange Board of India (SEBI) on Friday, decided to keep the revised subscription and redemption timings unchanged till April 30. Now, investors looking to purchase or redeem funds will have to put in their requests early to avoid any delay in the transactions. The revised timings, as notified by SEBI, will entertain purchase requests come in only till 12:30 PM, while redemption timings have been brought forward to 1 PM.
Investors eyeing to purchase debt, hybrid or equity funds, will have to register their transactions before the revised cut-off time of 1 PM till April 30. If orders are placed after the revised timings have expired, the new NAV will be applicable. SEBI has also revised the timing for redemption of all mutual funds to 1 PM till April 17. According to the revised timings, any order placed after the cut-off time, NAV of the same day will be applicable.
Earlier SEBI had notified that the change in subscription and redemption timing will be effective till April 17. However, owing to the extended, nation-wide lockdown the same has been kept unchanged till April 30 by SEBI. Earlier yesterday, the central bank had announced that currency, bond and forex markets will continue to trade as per the changed timings till April 30.
Mutual fund investments in March saw both inflows and outflows surging. Mutual funds outflows surged to reach Rs 2.12 lakh crore in March. On the other hand outflows jumped as well. For equity mutual funds inflows reached one-year high of Rs 11,485 crore, rising 7% from the previous month, according to the data published by Association of Mutual Funds in India (AMFI). Majority of the equity mutual fund inflows were registered in Multi Cap funds, registering inflows worth Rs 2,268 crore; followed by Large Cap funds where inflows over Rs 2,060 crore were seen in the month of March.