Ch.7 · NAV Calculation Rules · hard
What is the 'NAV applicable for purchases made through cheque'?
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EXPLANATION
For cheque purchases, the applicable NAV depends on when the cheque is realised (cleared) in the AMC's account — not when it is submitted. For purchases below ₹2 lakh, submission date NAV applies if submitted before cut-off. For ₹2 lakh and above, the NAV date is when funds are actually realised. This prevents investors from benefiting from market movements during the cheque clearing period.
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