Magnum InstaCash ( Dividend-AR Dividend-D Cash ), an open-end short-term debt fund from SBI Mutual Fund has effected changes in the pricing policy with effect from June 27, 2001.
Any requests for purchase or redemption of units in Magnum InstaCash received before 10.30 A.M on a business day will be processed on previous day's NAV and the same if received after the above cut-off time will be processed on that day's NAV. Effectively, it would cut down the waiting time for transactions through high value cheques as till date, the sale/redemption requests received before 11 A.M were processed on that day's closing NAV while those received after the cut-off time, on the next day's NAV.
