Regulatory Alerts2025-04-22
Change in cut-off timings to determine applicable NAV with respect to repurchase/ redemption of units in overnight schemes of Mutual Funds
SEBI has modified the cut-off timings for determining the applicable Net Asset Value (NAV) for the repurchase of units in overnight mutual fund schemes to facilitate the upstreaming of client funds by stock brokers. The revised regulations establish a 3:00 PM cut-off for standard applications and a 7:00 PM cut-off for online submissions, with the preceding business day's NAV applying to requests received before these respective deadlines. These provisions are mandated to come into force on June 1, 2025, to safeguard investor interests and operationalize fund pledges.
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