HDFC Liquid Fund will declare the Net Asset Value (NAV) on all the seven days of the week. The Fund has also revised the Applicable NAV and cut-off time for all investments made in to the fund.
As against the present cut-off time of 10.30 A M, any investment application received before the 10 A.M on a business day will be processed on the preceding day's NAV. And the application received between 10 A.M to 12 noon will be processed on the NAV at the close of the business day. In case the next day is a holiday or a series of holiday, the application received within the above time limit will be processed on the NAV of the day preceding the Business day or the last holiday in sequence respectively.
In addition to this, for applications received during 10 A.M and 12 Noon on a Friday, the NAV at the close of that day will be applicable but if the following Saturday is a holiday, the NAV as on Sunday will be applicable. Also for all switch-over requests received during 9.30 A.M and 3.30 P.M will be processed on that day's NAV.
The above changes apply to both the dividend reinvestment as well as the growth plans and will come in effect from July 30, 2001.