Ch.9 · Systematic Transactions — SIP, SWP, STP · easy
An investor submits a redemption request for an equity mutual fund at 4:00 PM on a business day. Which NAV will be applicable?
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EXPLANATION
For equity funds, the cut-off time is 3:00 PM. Redemption requests received after 3:00 PM are processed at the next business day's NAV.
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