Cut-Off Time For Equity Mutual Funds To Be Restored From Monday
Capital markets regulator SEBI will restore the cut-off timing for buying and selling of equity mutual fund units to 3 p.m. from Monday, according to industry body Association of Mutual Funds in India.
However, the existing truncated cut-off time would continue for debt and conservative hybrid funds. In a tweet, AMFI Chairman Nilesh Shah said cut-off timing for both subscription and redemption for all schemes other than those categorised as debt schemes and conservative hybrid fund is being restored to original cut-off timing of 3 p.m., effective, Oct. 19.
The move comes following a request by the industry body AMFI. Earlier in April, SEBI had reduced cut-off time for subscription and redemption of mutual funds, including liquid and overnight schemes due to coronavirus pandemic.
The regulator had reduced cut-off time for availing the same day's net asset value for mutual fund schemes to 1 p.m. from 3 p.m.
For liquid and overnight funds, the time was advanced to 12:30 p.m. from 1:30 p.m. The Reserve Bank of India in April had reduced debt and currency market hours permitting trades only from 10 a.m. to 2 p.m.