Applicable NAV and cut-off rules for Indian mutual funds

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

The applicable NAV of a mutual fund transaction in India is the Net Asset Value (NAV) at which a specific subscription, redemption, or switch is processed. Because NAV is computed once per business day after market close under Regulation 47 of the SEBI (Mutual Funds) Regulations, 1996 , the SEBI-mandated cut-off time rules determine whether a transaction uses the same-day NAV or the next business day’s NAV. The applicable-NAV framework was substantially tightened by SEBI Circular SEBI/HO/IMD/DF2/CIR/P/2020/175 dated 17 September 2020 (effective 1 February 2021), which introduced the realisation-of-funds requirement that anchors the same-day NAV applicability to the time of funds credit in the AMC’s collection account rather than to the time of order submission. Subsequent uniform cut-off rules were standardised by SEBI Circular SEBI/HO/IMD/DF2/CIR/P/2021/024 dated 5 March 2021, and the consolidated framework is reissued in the SEBI Master Circular on Mutual Funds (most recently May 2024).

PPFAS custodian, RTA and auditor relationships

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

The third-party service provider relationships of PPFAS Mutual Fund, comprising the custodian , the Registrar and Transfer Agent (RTA) and the statutory auditor, are core elements of the operational infrastructure that allows PPFAS Asset Management Private Limited to discharge its investment management responsibilities for the seven active schemes of PPFAS Mutual Fund . The three principal service providers are Deutsche Bank AG (Mumbai branch) as custodian, Computer Age Management Services Limited (CAMS ) as the Registrar and Transfer Agent, and M.M. Nissim and Co. LLP as the statutory auditor.

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Applicable NAV and cut-off rules for Indian mutual funds

PPFAS custodian, RTA and auditor relationships