@PravinJ , I have done investment in MF today but I am getting message that it takes 3-4 days to get reflected.
Ideally one should get same day NAV for MF.
Please refer to screenshot for same.
Hi @Devd ideally you will get same day NAV. The date mentioned of 16th Jan is for the AMC to process and credit units to your folio
But the message states 3-4 days to process. Is there a timeline to confirm which date NAV would be obtained.
Is there somewhere mentioned for Dhan platform?
Hi @Devd The rules are now updated for MF NAV, this happens when the payment is sighted by the RTA on behalf of the AMC.
When it is done, it is instantly communicated to you + updated to your Orders and hence the portfolio. It will be faster than 3 to 4 days, the timeline is indicative.
Tomorrow i.e.14th January becz 2pm is cuttoff time for equity mutual funds any but no guarantee if you place order before 2pm you will get same date nav becz it depends when fund house get your money.
90% if you place order between 12:00pm to 1:30pm you get same day
Some time i placed order at 1:45 pm i get same date nav sometimes not…
@PravinJ , in this case how can I get same day NAV for mutual fund?
Please refer to how zerodha states for Coin investment.
Do we have a similar mechanism for investment before 2pm. I want to capitalise on the sharp correction with same day NAV rather than for 2-3 days further allotment.
Kindly elaborate.
Is that your allotment from Dhan platform for same day or T+1 NAV?
Hi @Devd Well, all brokers including the one you mentioned sends orders to RTAs via the same exchange mechanism, it is not different.
We do not want to mention things which may not be true, for example - if the bank underlying used for investment makes settlement of funds with the PG and then with the bank of AMC after 24 hours, then they NAV will be after the AMC sights the fund. Same is the case we mentioned - the NAV is based on funds realised, it does not matter when the order is placed.
Here is the note by AMFI - Association of Mutual Funds in India
There may be a cut-off time, but eventually NAV is given only then the funds are see by the AMC, Hope this clarifies.
Easiest tip: Place your orders before 10am and there is a 99.9999% success rate of getting same day NAV. For me, I have placed orders even at 12pm and still got the same day NAV without fail every single time.
If you want to fully capitalised your fund then place order before 1pm
As I said earlier 2pm is the official cutoff but no broker will guarantee you that you will get same date nav.
In this order I get next day nav although I placed before 2pm
In this order I get same date nav at 1:50 pm & in both the order dhan takes 0.1 sec to place.
As per official communication by AMFI the cutoff time for All the funds (except liquid funds) is 3PM. Source: Association of Mutual Funds in India
Though mutual fund house places their own cutoff times as well.
As @Devd is investing in Axis mutual fund, here’s a link Mutual Funds Investment Planning: What is Mutual Fund (MF) & its Types| Axis Mutual Fund
Also rightly said by Pravin Sir that this cutoff time is for AMC to receive the money, using a faster bank account like I use ICICI Bank and completing the transaction atleast an hour before is great way to get same day NAV 99.99% of the times.
Yes @Pradumya that’s correct. If someone wants to optimise for the NAVs, it is best to do UPI from large banks, and punch in orders within a safe time gap of the cut-off orders.
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@PravinJ sir
kindly update time cutoff time in dhan.
The screenshot you mentioned from Groww is somewhat correct.
The link to AMFI is actually true for the AMCs - 3PM (for non-liquid schemes)
But brokers can place their own cutoff times to optimise the transactions like Dhan setting cutoff time as 2PM helps Dhan & BSE Star to process the transactions before actual cutoff set by AMCs
Ideally one should check cut-off timing on AMC website. For ppfas funds cutoff time is 2:30PM. Incase you are late by broker’s cutoff time, you can always complete the transaction via Direct modes like Mfcentral or AMC website itself
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@PravinJ On a different issue, can we please have an option to either invest in existing folio or create new folio while investing, by mistake I consolidated one of my folio of edelweiss and since then i am not able to buy cause of that, have reached out to customer support as well where they checked and asked to place a new order but unfortunately that also got rejected cause of same reason today.
After you AMFI post i check brokers website
Dhan,Groww,Zerodha (Equity cutoff time):2pm
Upstox, Angleone (Equity mfcutoff time):3pm
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Hi @rrhc1504
Like we talked about, We’ve updated your folio which has been consolidated out. Give it another go and place order.