Wanted to understand will MF redemption order be executed for order place before 1pm on 19th Nov (gurunanak jayanthi NSE Holiday). For eg. If I place a redemption order on 19th Nov for a MF I own (HDFC Short term debt MF) which has a redemption date of T1, would the order be executed on 19th Nov and the funds would be in my account on Monday 22nd Nov or would the order be executed on Monday.
Also when the mutual fund has a redemption for T1, when does the fund approximately hit the trading account (before market open, noon, eod)?
Since both the bond and equity markets are closed on 19th, redemption will be processed on the next trading day, which would be Monday.
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Markets will be closed on 19th November. Any order placed on this day will be processed on next working day ie. Monday and funds will be credited to your account on T+1 day.
The funds will be credited by 11 AM. Explained here.