All videos · NISM Series V-A · Chapter 9
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Which NAV for a liquid fund bought on Wednesday?
An investor buys a liquid fund at 11 am on Wednesday, with funds available, before the cut-off. She gets Tuesday's NAV, the day before receipt.
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The full concept: Cut-off times and the applicable NAV
Worked example: A distributor collects a redemption form at 2 pm but submits it at the AMC's office at 3:45 pm. The time stamp is 3:45 pm, so the next business day's NAV applies.
