MFIs/MFDs/RIAs are hereby informed that May 26, 2021 will be a non-business day for Debt and Liquid Funds on account of Buddha Purnima. The subscription orders in all the Debt, Liquid Mutual Fund schemes and L1 and L0 category of schemes shall be accepted on May 26, 2021 and will be reported to the respective Registrars on transaction day itself subject to fund confirmation uploaded/received. The orders shall be available in the Provisional Order Report with Order date as May 26, 2021. Also, in the Order Status Report, the order date shall be available as order date as May 26, 2021.
NAV applicability for unit allotment / redemption payout for said category of scheme transactions are provided in attached Annexure
The Redemption’s/Switch’s/STP’s orders in all category of schemes shall be accepted and reported to the respective Registrars on May 26, 2021.
In view of the same, we request the MFIs/MFDs/RFIs to note the following:
1. MFIs/RFIs can arrange to upload the funds confirmation (FC) file pertaining to the Equity based transactions (Both Lumpsum and SIP) on May 26, 2021 till 2:35 PM, to allow ICCL to debit the Settlement pool account of the members and transfer the funds to the respective AMC’s before the deadline time of 3:00 PM.
2. MFIs/RFIs to note that they should not include the Liquid and Debt transactions in the FC file on May 26, 2021 as it is a non-transaction day for Liquid and Debt transaction.
3. We may inform MFIs/RFIs that the system will not reject the lumpsum orders pertaining to Equity, Debt and Liquid schemes for which the FC file is not uploaded on May 26, 2021 till 2:35 PM, and they can opt to upload the FC file for these transactions on May 27, 2021 along with the transactions of May 27, 2021.
4. MFDs/RFDs may note that the funds received for Liquid (L0) based schemes till 1:00 PM, Debt and Equity based schemes till 2:30 PM shall be transferred to the AMC’s on May 26, 2021.
5. The funds received for Liquid T1 type of transactions on May 26, 2021, will be given to the AMC’s in the final process on May 27, 2021.
6. Members are requested to inform their clients to deliver the DIS pertaining to the Redemption and Switch orders placed by them for Demat transactions on May 26, 2021 before 4:30 PM, failing which the underlying orders are bound to be rejected.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Asst. General Manager – Mutual Funds |