Ch.7 · NAV Calculation Rules · hard
What is the NAV applicability rule for redemptions from liquid funds?
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EXPLANATION
For liquid fund redemptions, the cut-off is 3:00 PM — requests before 3 PM get that business day's NAV; after 3 PM gets the next business day's NAV. Note this differs from the purchase rule (1:30 PM cut-off for T-1 NAV). Redemption proceeds from liquid funds are credited to the investor within 1 business day (T+1).
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