Zurich MF to list 3 debt schemes on NSE

Our Markets Bureau

Mumbai, Nov 4: Zurich India Mutual Fund (MF) plans to list all its three debt schemes on NSE to help its investors easily transact in the units of these schemes.

Both the NSE and the National Securities Clearing Corporation Ltd (NSCCL) have launched the mutual fund service system (MFSS) to effectively cater to assist investors in buying and redeeming mutual fund scheme units from the exchange. Interestingly, the fund has begun accepting funds on Saturdays for its Zurich India Liquidity Fund, one of the three debt schemes to be listed on the NSE.

After the listing, the settlement of debt funds’ units purchased/redeemed will be on a T+1 basis, as against those if equity schemes which are settled on T+3 basis. The availability of wide reach of such a system will make transacting in demat units operationally convenient. Moreover, with the ban on badla, a lot of smaller badla players have found investment in liquid funds a good investment opportunity. With investment mostly in debt and money market securities, liquid funds are safe and highly liquid.

An investor may approach a broker for sale and repurchase of units who is a registered member of the SE with which the fund has entered into an agreement in this regard and place an order for the sale/repurchase of units to a broker.