RTA Mutual Fund Exam Important Points

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  • On-going or continuous offer indicates that transactions are resumed in a fund after the allotment is over. Purchases and redemptions of units happen at NAV related prices during the on-going offer period.
  • For liquid funds, NAV is calculated and declared every calendar day, whereas NAVs for other than liquid funds are calculated and declared every business day.
  • Business Day' does not include a day on which the Money Markets are closed or otherwise not accessible.
  • (Market value of the portfolio - Expenses and liabilities) / (Number of units outstanding)
  • NAV of Day T thus includes portfolio value of Day T (Numerator) and the number of outstanding units on day T-1 (Denominator). Valuation process must be completed such that NAVs (except for fund of fund schemes) of schemes are computed and updated by 11.00 pm on the AMFI's website and Mutual Fund website (regulatory requirement).

NISM RTA MUTUAL FUND

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