SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/2020/175 dated 17.09.2020

SEBI on Thursday modified certain rules related to Mutual Fund (“MF”) schemes. It said the closing NAV of the day shall be applicable during purchase of MF units, irrespective of the time or size of receipt. The rules are to come into effect from January 1, 2020.
AMCs are required to use an automated Order Management System wherein the orders for equity and related instruments of each scheme shall be placed by the Fund Manager of the respective schemes.