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 applicable NAV if application for redemption is made at 3:15 pm ?
Answer & Explanation:
If application for redemption is submitted at 3:15 pm after 3 pm then next day NAV will be applicable. Thus, In case of equity oriented scheme = ₹47 will be applicable NAV In case of debt scheme = ₹33 will be applicable NAV
Topics: Mutual Funds
Related Questions in this Topic
- Based on the following information, determine the NAV of a regular income scheme on per unit basis: Listed sh...
- The investment directly made in a particular share may be riskier for general public. To mitigate this risk, to some ext...
- If the front-end load is 2%, calculate the Public Offer Price of the unit.
- Grow More Fund has a size of ₹ 600 crore with face value of each unit being ₹ 10. The following information has been pro...
- X has made an investment of ₹ 50,000 to buy 5000 units of Philip mutual fund on 4th April, 2021. He decided to sell the ...