When NAV in MF is calculated?

[mohan]

I use ICICIDirect.com to buy and sell MF. I am looking to redeem(sell) my mutual fund on 10 AM on any particular day, which day NAV will be used to calculate my return, previous day, or the end of that day?

[Expert]

If you decide to redeem your funds before 3 PM, then the NAV calculated later for that day would be applicable. If you redem your units after 3 PM on a day, then the next day's NAV would be applicable.
This happens if you buy or sell through on-line websites. Same thing happen if you buy through broker and your broker submits your application as per the above time line.

Hope I have made it clear. If still you have any question, Please post your question here in the forum.

[mohan]

Thanks for the well explained answer.