Change in cut-off timings to determine applicable NAV with respect to repurchase/ redemption of units in overnight schemes of Mutual Funds https://www.taxtmi.com/circulars?id=68519 SEBI amends paragraph 8.4.5.4 to require AMCs to apply the closing NAV of the previous business day for repurchase applications received on or before 3:00 pm, and the closing NAV of the next business day for applications received after 3:00 pm; for online applications in overnight fund schemes a 7:00 pm cut-off applies. Business Day excludes days when Money Markets are closed. The amendment, introduced to facilitate upstreaming of client funds via pledged MFOS units, takes effect June 1, 2025. en-us Tue, 22 Apr 2025 00:00:00 +0530 Wed, 23 Apr 2025 09:52:00 +0530 TaxTMI RSS Generator Change in cut-off timings to determine applicable NAV with respect to repurchase/ redemption of units in overnight schemes of Mutual Funds https://www.taxtmi.com/circulars?id=68519 SEBI amends paragraph 8.4.5.4 to require AMCs to apply the closing NAV of the previous business day for repurchase applications received on or before 3:00 pm, and the closing NAV of the next business day for applications received after 3:00 pm; for online applications in overnight fund schemes a 7:00 pm cut-off applies. Business Day excludes days when Money Markets are closed. The amendment, introduced to facilitate upstreaming of client funds via pledged MFOS units, takes effect June 1, 2025. Circulars SEBI Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68519