Mutual Fund

Normal Cut-Off Timings Shall Be Applicable For All Mutual Fund Transactions From Monday, November 09, 2020

Mutual Fund investors and intermediaries may please note that, as advised by SEBI, normal cut-off timings shall be restored effective from Monday, November 9, 2020 for applicability of Net Asset Value (NAV) for both subscription and redemption transactions across for all mutual fund schemes, as mentioned in table below -

All other provisions w.r.t. applicability of NAV in respect of subscriptions and redemptions shall be in accordance with SEBI Mutual Funds Regulations read with the applicable SEBI circulars. Issued in Public Interest

Mutual Fund Investors may please note that with effect from July 1,2020, mutual fund units issued against Purchase transactions (whether through lump-sum investments or SIP or STP or switch-ins or dividend reinvestment) would be subject to levy of stamp duty* @0.005% of the amount invested.

Transfer of mutual fund units (such as transfers between demat accounts) are subject to payment of stamp duty* @0.015%.

*pursuant to Notification No. S.O 4419(E) dated December 10,2019 issued by Department of Revenue, Ministry of Finance, Government of India, read with Part 1 of Chapter IV of Notification dated February 21, 2019 issued by Legislative Department, Ministry of Law and Justice, Government of India on the Finance Act, 2019, and subsequent Notification dated March 30,2020 issued by Department of Revenue, Ministry of Finance, Government of India.

In an endeavor to enlarge the range of services available to our customers, since 2004 and 2006 Punjab National Bank from its designated branches has been distributing the products of,

Mutual funds have gained rapid popularity as a good investment vehicle and public at large is attracted towards MF investment, which has variety of schemes and income options offered by Mutual Funds which can suit the financial preferences of all classes of investors, be it Retail, Corporate or Institutional.

The robust performance of the industry comes on the back of growing investor awareness and increased investments in Systematic Investment Plans (SIPs).

AMFI data shows that Indian Mutual Funds have currently about 5.28 crore (52.8 million) SIP accounts through which investors regularly invest in Indian Mutual Fund schemes.

The MF Industry’s AUM has grown from Rs. 17.55 Trillion as on March 31, 2017 to Rs. 37.57 Trillion as on March 31, 2022, more than 2 fold increase in a span of 5 years.

The total number of accounts (or folios as per mutual fund parlance) as on March 31, 2022 stood at 12.95 crore (129.5 million), while the number of folios under Equity, Hybrid and Solution Oriented Schemes, wherein the maximum investment is from retail segment stood at about 10.34 crore (103.4 million). “

The following benefits, intrinsic to investments in Mutual Funds have inspired greater confidenceamongst the investors :-

Mutual Funds offer schemes keeping in view the risk profile and risk-return preferences of investors.

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Mutual Funds Investments are subject to market Risk. Read all scheme related documents carefully before investing. For more details on risk factors, terms and conditions please read scheme related documents carefully before investing.Contract will be between Investor & Mutual Fund Asset Management company and not between Investor & the Bank. Punjab National Bank is a distributor of above mentioned Mutual Fund Asset Management companies having (Association of Mutual Funds in India) AMFI code 8418.

Following are the details of the commission earned by Punjab National Bank from various fund-houses:

If you need any further information on the same, please reach us at
1800 1800 or 1800 2021www.pnbindia.in