Cut-off time for equity MFs to be restored from Monday: Amfi

Capital markets regulator Sebi will restore the cut-off timing for buying and selling of equity mutual fund units to 3 pm from Monday, according to industry body Amfi.

However, the existing truncated cut-off time would continue for debt and conservative hybrid funds.

In a tweet, Amfi Chairman Nilesh Shah said cut-off timing for both subscription and redemption for all schemes other than those categorised as debt schemes and conservative hybrid fund is being restored to original cut-off timing of 3 pm, effective, October 19.

The move comes following a request by the industry body Association of Mutual Funds in India (Amfi).
Earlier in April, Sebi had reduced cut-off time for subscription and redemption of mutual funds, including liquid and overnight schemes due to coronavirus pandemic.

The regulator had reduced cut-off time for availing the same day's net asset value (NAV) for mutual fund schemes to 1 pm from 3 pm.
For liquid and overnight funds, the time was advanced to 12.30 pm from 1.30 pm.

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The Reserve Bank of India (RBI) in April had reduced debt and currency market hours permitting trades only from 10 am to 2 pm. PTI