Grindlays Super Saver Income – Short-term Fund (GSSI-ST) has introduced T+1 redemption with effect from November 26, 2001. That essentially means the redemption will be processed within 24 hours, if redemption request is made before cut-off time. Cut-off time for redemption will be 10.30 a.m. and for switchover it will be 3.30 p.m. on a business day.
If the application for redemption is submitted before cut-off time, the same day's NAV will be applicable from Monday to Thursday. But, for the application submitted before the cut-off time on Friday, Sunday NAV would be applicable. And redemption requests received after the cut-off time will be processed on the next day's NAV.