Mutual fund buying rules changed. What NAV will be applicable?
On Thursday, Sebi issued a mutual fund circular to change the NAV rules. From January 1, investors will get the purchase NAV of the day when investor’s money reach AMC. "It has been decided that in respect of purchase of units of mutual fund schemes (except liquid and overnight schemes), closing NAV of the day shall be applicable on which the funds are available for utilization irrespective of the size and time of receipt of such application," said the Sebi circular.
The new NAV rules will not be applicable to liquid and overnight funds.
Here’s the NAV that you will get on your funds:
Source : Live Mint