How to get the same-day NAV for mutual fund investments
Synopsis
At times it can be very important for investors to get the units allotted on the same day as the payment is made i.e., get the same day's NAV. For example, those investing in ELSS schemes on the last day of the tax-saving season, i.e., on March 31.
Effective February 1, 2021, mutual fund investors only get the same day's net asset value (NAV) if their application for purchase of units as well as the payment reaches the mutual fund house's bank account before 3 PM on a business day for all equity and debt schemes. If the payment reaches the mutual fund's account after 3 PM, then the individual (investor) will get units valued at the next day's NAV.
At times it can be very important for
