R is holding 2000 units of a equity-oriented scheme of a mutual fund and 1000 units of a debt scheme of a mutual fund. On 7th June, 2020 he is interested to redeem these units. Prevailing net asset value (NAV) of these u
CS Executive · Securities Laws and Capital Markets · PYQS · June 2021
R is holding 2000 units of a equity-oriented scheme of a mutual fund and 1000 units of a debt scheme of a mutual fund. On 7th June, 2020 he is interested to redeem these units. Prevailing net asset value (NAV) of these units are as under: Date | Net Asset Value (NAV) | Equity-oriented scheme (in ₹) | Debt scheme (in ₹) 6th June | 45 | 35 7th June | 46 | 34 8th June | 47 | 33 He makes an application for redemption of above units on 7th June, 2020 at 2:30 pm. Based on given information answer the following: What will be the applicable NAV in his case ?
Answer & Explanation:
In the given case, since application is submitted before 3 pm so same day NAV (i.e. the NAV on which application for redemption has been submitted) will be applicable. Thus, In case of equity oriented scheme = ₹46 will be applicable NAV In case of debt scheme = ₹34 will be applicable NAV
Topics: Mutual Funds
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