Ch.9 · Systematic Transactions — SIP, SWP, STP · medium
An investor submits a purchase application for a liquid fund along with a cheque for ₹2 lakh at 12:00 PM. Which NAV applies?
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EXPLANATION
For liquid funds, purchase cut-off is 1:30 PM. Applications with funds received before 1:30 PM get the previous day's NAV. Since cheque submission at 12 PM is before 1:30 PM, previous day's NAV applies.
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