Description

BSE announces activation of the SMART Switch facility under the TRUSTMF Mid Cap Fund NFO on the BSE StAR MF platform, detailing 10 subscription-to-switch-in scheme mappings across Direct and Regular plan variants.

Summary

BSE has activated the SMART Switch facility under the TRUSTMF Mid Cap Fund NFO on the BSE StAR MF platform. This circular specifies 10 scheme-level mappings that define which subscription (NFO auto-switch) schemes will be reported as Switch In transactions into the corresponding TRUSTMF Mid Cap Fund plans upon NFO closure.

Key Points

  • The SMART Switch facility allows units accumulated in source liquid/debt schemes during the NFO period to be automatically switched into TRUSTMF Mid Cap Fund upon allotment.
  • Ten scheme mappings are defined, covering Direct and Regular plan variants across five source fund categories.
  • Source schemes include TRUSTMF Liquid Fund, Overnight Fund, Short Duration Fund, Money Market Fund, and Corporate Bond Fund.
  • All switch-in transactions are reported into either TRUSTMF Mid Cap Fund - Direct Plan-Growth or TRUSTMF Mid Cap Fund - Regular Plan-Growth, depending on the plan variant of the source scheme.
  • Direct Plan source schemes map to TRUSTMF Mid Cap Fund Direct Plan-Growth; Regular Plan source schemes map to TRUSTMF Mid Cap Fund Regular Plan-Growth.

Regulatory Changes

No regulatory changes are introduced. This is an operational activation notice for an existing BSE StAR MF platform facility.

Compliance Requirements

  • BSE StAR MF platform participants (distributors, RTAs, AMCs) should update their systems to recognise the 10 NFO Auto Switch scheme codes as mapping to the respective TRUSTMF Mid Cap Fund Switch In reporting schemes.
  • Ensure Switch In transactions are correctly reported under the designated TRUSTMF Mid Cap Fund plan (Direct or Regular) based on the source scheme’s plan type.

Important Dates

  • Circular Date: 2026-03-02
  • Effective Date: Immediate upon circular issuance (NFO period activation).
  • Specific NFO open/close dates are not stated in this circular; participants should refer to the TRUSTMF Mid Cap Fund NFO offer document for those details.

Impact Assessment

The impact is limited to BSE StAR MF platform users transacting in the TRUSTMF Mid Cap Fund NFO. Investors using the SMART Switch route will have their interim holdings in TRUSTMF liquid/debt schemes automatically switched into the Mid Cap Fund upon NFO allotment, ensuring seamless deployment of funds. No broader market or equity segment impact is expected.

Impact Justification

Routine operational notification for BSE StAR MF platform participants regarding SMART Switch scheme mappings for a mutual fund NFO; no regulatory changes or broad market impact.