Ch.7 · Total Expense Ratio Limits · hard
What is the NAV publication requirement for Fund of Funds schemes?
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EXPLANATION
FoF schemes invest in other mutual fund schemes. Since they need the underlying schemes' closing NAVs (published by 11 PM) to calculate their own NAV, FoFs are permitted to publish their NAV by 10 AM of the following business day. This one-day lag is necessary given the dependency on underlying scheme valuations.
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