SEBI through an informal guideline clarified that investors will be given latest NAV on liquid funds if they execute STP on Friday from liquid funds to other schemes. SEBI Said “As the NAV for the switch out transaction in a liquid scheme for the request received before the cut-of timing on Friday or on a day preceding the next business day, therefore, the NAV applicable for the coinciding switch-in transaction should not be prior to the day of NAV applicable for the switch out transaction…”SEBI through an informal guideline clarified that investors will be given latest NAV on liquid funds if they execute STP on Friday from liquid funds to other schemes. SEBI Said “As the NAV for the switch out transaction in a liquid scheme for the request received before the cut-of timing on Friday or on a day preceding the next business day, therefore, the NAV applicable for the coinciding switch-in transaction should not be prior to the day of NAV applicable for the switch out transaction…”taxmann.com Latest Statutory HappeningsRead More
