International MF schemes get extra time to declare net asset values: Sebi

Funds can disclose NAV by 10 am the next day from July

The Securities and Exchange Board of India (Sebi) has provided extra time to international mutual fund schemes to disclose their net asset values (NAV) due to complexities "arising out of differences in time zones".

From July 1, international funds will have the flexibility to declare the NAV the next day (before 10 am) rather than the present practice of declaring the NAV in the evening of the same day (before 11 pm). This means that the NAV at the end of today's trade can be declared tomorrow by 10 am.

For the rest of the schemes, the timelines remain the same. Except for schemes having exposure to exchange traded commodity derivatives (ETCDs) who can declare the NAV by 9 am of the next day, all schemes excluding international ones have to disclose the NAV on the same day by 11 pm.

 

Any scheme finding it difficult to comply with the prescribed timelines, can set their own timeline after disclosing the reason for delay in their scheme documents.