SEBI Liquid Fund Risk Management Framework 2019

Sun, 17 May 2026 00:00:00 +0000

The SEBI Liquid Fund Risk Management Framework, introduced through SEBI Circular SEBI/HO/IMD/DF2/CIR/P/2019/101 dated 20 September 2019, fundamentally restructured the operational and risk-management framework for Indian liquid mutual fund schemes. The framework was issued in response to the IL&FS Group default crisis of late 2018 and subsequent debt-fund credit events that had revealed structural risks in liquid-fund operations. The 2019 framework introduced multiple substantive changes including the 1:30 p.m. NAV cut-off (tightened from the prior 2 p.m.), the seven-day exit-load on early redemptions, the minimum 20 per cent in liquid assets portfolio composition requirement, the maturity-cap framework, and the Instant Access Facility (IAF) caps.

PPFAS Exit Load Structure

Sat, 16 May 2026 00:00:00 +0000

The exit-load structure of PPFAS Mutual Fund denotes the per-scheme schedule of redemption charges applied to unit-holders who redeem or switch units before completing the prescribed minimum holding period for the source scheme. Exit loads in Indian mutual funds are governed by SEBI Mutual Funds Regulations, 1996 Regulation 51A, which caps exit loads at 5 per cent of the redemption amount and requires that the load proceeds be credited back to the scheme corpus rather than being retained as AMC income.

Liquid Fund Exit Load on WebNotes

SEBI Liquid Fund Risk Management Framework 2019

PPFAS Exit Load Structure