Ch.9 · Systematic Transactions — SIP, SWP, STP · hard
An investor submits a purchase application for a debt fund at 2:00 PM with a cheque. The cheque is cleared and funds are credited the next business day. Which NAV applies?
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EXPLANATION
For debt fund purchases, NAV is allotted based on the day funds are actually credited to the AMC's collection account, irrespective of when the application was submitted.
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