MFIs/MFDs/RIAs are hereby informed that August 16, 2021 will be a non-business day for Debt and Liquid Funds on account of Parsi New Year. The subscription orders in all the Debt, Liquid Mutual Fund schemes and L1 and L0 category of schemes shall be accepted on August 16, 2021 and will be reported to the respective Registrars on transaction day itself subject to receipt of funds. The orders shall be available in the Provisional Order Report with Order date as August 16, 2021. Also, in the Order Status Report, the order date shall be available as order date as August 16, 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 August 16, 2021.
In view of the same, we request the MFIs/MFDs/RFIs to note the following:
1. MFIs/RFIs needs to upload the funds confirmation (FC) file pertaining to the Equity, Debt and Liquid based SIP transactions on August 16, 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 ICCL shall debit the Settlement pool account of the members for valid Lumpsum transactions executed/available on August 16, 2021 as per settlement timings provided below to transfer the funds to the respective AMC’s before the deadline time of schemes.
|
Process No
|
Order placement deadline time
|
Order cancellation cut-off time
|
Settlement Process commencement time
|
|
1
|
1:00 PM
|
1:02 PM
|
1:02 PM
|
|
2
|
1:45 PM
|
1:47 PM
|
1:47 PM
|
|
3
|
2:30 PM
|
2:32 PM
|
2:32 PM
|
3. We may inform MFIs/RFIs that the system will not reject the SIP orders pertaining to Equity, Debt and Liquid schemes for which the FC file is not uploaded on August 16, 2021 till 2:35 PM, they can opt to upload the FC file for these transactions on August 17, 2021 along with the transactions of August 17, 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 August 16, 2021.
5. The funds received for Liquid T1 type of transactions on August 16, 2021, will be given to the AMC’s in the final process on August 17, 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 August 16, 2021 before 4:30 PM, failing which the underlying orders are bound to be rejected.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Dy. General Manager – Mutual Funds
|