Ch.7 · Total Expense Ratio Limits · medium
What is the 'cut-off time' for equity scheme transactions and its impact on NAV applicability?
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EXPLANATION
For equity, hybrid, and most debt schemes, the cut-off time is 3:00 PM. Transactions (purchase/redemption/switch) submitted before 3 PM with funds received by the AMC also before 3 PM get that business day's closing NAV. Transactions submitted after 3 PM get the next business day's NAV. This rule prevents investors from exploiting intraday price movements.
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