BSE revises cut-off timings for MF subscription, redemption on StAR MF platform

By: |
Published: April 7, 2020 4:14:39 PM

In case of subscription of liquid and overnight schemes, BSE said new timing for L0 transactions on the StAR MF platform will be 12 noon and 1 pm for normal transactions (for both subscription and redemption).

BSE,  StAR MF, mutual fund distribution platform, liquid MF schemes, Delivery Instruction Slip, latest news on BSEFor subscription of other schemes, BSE said it has revised the timing for L1 transactions on the platform to 12.30 pm. Earlier, L1 transactions were accepted till 2:30 pm.

Leading stock exchange BSE has revised cut-off timings for subscription and redemption of liquid, overnight and other schemes on its mutual fund distribution platform – StAR MF. This revised ?timings shall be applicable with effect from April 7, 2020, BSE said in a circular.

In case of subscription of liquid and overnight schemes, BSE said new timing for L0 transactions on the StAR MF platform will be 12 noon and 1 pm for normal transactions (for both subscription and redemption).

For subscription of other schemes, BSE said it has revised the timing for L1 transactions on the platform to 12.30 pm. Earlier, L1 transactions were accepted till 2:30 pm. With respect to redemption and subscription for other mutual fund schemes, timing has been revised to 1 pm for normal transactions. Earlier, the timing was 3 pm.
The purchase transactions are classified under three different categories ? normal, L0 and L1.

L0 transactions are placed to purchase units of liquid MF schemes by selecting L0 as a suffix to the scheme type.L1 transactions are placed to purchase units of non-liquid MF schemes and have a value of Rs 2 lakh and above. Normal transactions are placed to purchase units of non-liquid MF schemes and have a value of less than Rs 2 lakh. Any Liquid transaction, which is not placed by suffixing L0 in the scheme type is also called normal transaction.

With respect to normal orders, the exchange said cut-off time for receipt of funds by Indian Clearing Corporation in their account for orders routed by distributors to get the historic day net asset value (NAV) in case of liquid transactions and same day’s NAV in case of L0 transactions is 11:30 am and?L1 transactions 12:00 noon.

In view of the advancement in accepting the redemptions and switch orders to 1:00 pm, the cut-off time in depositories to give the Delivery Instruction Slip (DIS) for investors against their redemption and switch orders has now been advanced to 2:30 pm instead of the existing 4:30 pm. The cut-off timing for non demat redemption and switch authentication is 1:00 pm. The revised timings will be applicable till April 17.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1CreditAccess Grameen rating: ‘Buy’; AuM growth in quarter was strong
2United Spirits rating: ‘Neutral’; Performance was below par in Q4FY20
3Liquidity continues to drive up markets, benchmarks gain 6% in a week