09/21/2024 | Press release | Distributed by Public on 09/20/2024 22:19
Notice No. | 20240921-1 | Notice Date | 21 Sep 2024 | |||
Category | Trading | Segment | Mutual Fund | |||
Subject | Activation of SMART Switch Feature under LIC MF MANUFACTURING FUND - NFO on BSE StAR MF platform | |||||
Attachments | Annexure II.xls ; Annexure I.xls ; Annexure IV.xls ; Annexure III.xls ; | |||||
Content |
We are pleased to inform that SMART switch feature under LIC MF MANUFACTURING FUND has been enabled on BSE StAR MF platform with effect from September 20, 2024, till October 01, 2024.
Further, MFIs/MFDs/RIAs/RFDs are advised to take note of below points for their clients who wish to avail the SMART switch feature under LIC MF MANUFACTURING FUND - NFO<_o3a_p>
Please refer annexure provided herewith for scheme credentials to have clear identification.<_o3a_p>
Members using direct APIs / API based platforms / bulk upload options are requested to use the proper scheme credentials depending on the investor's investment requirement for the schemes provided in annexure IV.<_o3a_p>
All purchase orders received in schemes under SMART Switch feature till 2:30 pm on October 01, 2024, and allotted successfully shall be automatically considered for 'Switch In' to "LIC MF MANUFACTURING FUND" as per Switch processing understanding provided in annexure II. All these switch transactions shall be reported to RTA on October 04, 2024.<_o3a_p>
Process for 'Switch out' transactions under the NFO SMART Switch scheme at AMC/RTA end are provided as below.<_o3a_p>
Example: Investor A (having existing 50,000 units) in BANDHAN OVERNIGHT FUND REGULAR PLAN-GROWTH & done additional purchase of Rs 1 Lac under smart switch scheme (75000 units appx) then, switch out will be processed only for 75,000 units and not for 125,000 that to in FIFO order i.e. 50,000 units from existing investment and 25,000 units from 75,000 units irrespective of valuation (Gain/Loss) on switch out date.<_o3a_p>
Example: Investor B done fresh purchase of Rs 1 Lac under smart switch scheme (75000 units appx) then, switch out will be processed only for 75,000 units irrespective of valuation (Gain/Loss) on switched out date.<_o3a_p>
Members can reach us through our Mutual Fund Helpdesk numbers on 022-45720450 and 022-45720650 on business days between 8:00am to 7:00pm. You can also raise your queries on our CRS portal: -https://bsecrs.bseindia.com<_o3a_p>
Ketan Jantre Mahesh Tare<_o3a_p>
Head - Trading Operations Manager - Mutual Funds