Small investors are allowed cash transactions for purchase of units in mutual funds to the extent of Rs. 50,000/- per investor, per mutual fund, per financial year
Open-Ended Schemes do not have a fixed maturity. Investors deal with the Mutual Fund for their investments & Redemptions. The key feature is liquidity. Investors can conveniently buy and sell your units at Net Asset Value (NAV) related prices, at any point of time.
Close-ended Schemes have an NFO Open Date and NFO Close Date. But, they have no Scheme Re-opening Date, because the scheme does not sell or re-purchase units. Investors will need to buy or sell units from the stock exchange where the scheme is listed.
Interval Schemes combine the features of open-ended and close-ended schemes. The periods when an interval scheme becomes open-ended, are called'transaction periods'; the period between the close of a transaction period, and the opening of the next transaction period is called'interval period'.
Minimum duration of transaction period is 2 days, and minimum duration of interval period is 15 days. Scheme should be compulsorily listed in Stock Exchange during the interval period.
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