Investors can now get previous day’s NAV in liquid schemes if
they deposit money in the brokers pool account by 1 pm.
BSE has extended the
cut off time for acceptance of subscription in liquid schemes to 12:30 pm from
12 noon earlier, from August 17, 2012. Investors can now get the previous
day’s NAV (historic NAV) if they place an order till 12.30 pm and deposit the
money in the brokers pool account by 1 pm.
The units in respect of these transactions get
transferred to brokers pool accounts by 5 pm and thereon to investors
beneficiary demat accounts. Investors could earlier only place a redemption
request on second day (T+2) after putting the historical NAV transaction. Now,
they can make redemptions the very next day (T+1). Thus investors can use this
facility to park their funds for even one day.
Earlier such a facility was only available in the offline
mode. BSE says that it has been seeing a spurt in the volumes after introducing
this facility. It claims to clock Rs 7 to Rs 8 crore daily average volumes in
liquid funds.
Presently nine AMCs
have offered their liquid schemes for historic NAV on BSE StAR MF. NSE had
launched such a facility from August 21, 2012.
