According to data collated from over 15 fund houses, including the top 10, there are indications that almost 50% would require over 10 days to liquidate 25% of their smallcap schemes.
Among the top 10, SBI Mutual Fund would require 30 days to liquidate 25% of the scheme, while Franklin Templeton would require just 2 days to do so. In case of liquidation of 50% of the scheme, some fund houses will require between 20 and 60 days.
The liquidity numbers look much better when it comes to the mid-cap schemes, with most fund houses needing between 2 and 17 days to liquidate 25% of the scheme and around double the time for 50% of the scheme (See table on page X).
Fund houses are required to pay investors within three days after the investor has applied for redemption.
According to industry players, most of the numbers look quite reasonable, and even if some of them are on the higher side, most fund houses are sitting on reasonable cash (in excess of 5%) in their schemes.
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