Description

BSE enables the SMART Switch feature for Invesco India Nifty Bank Index Fund and Invesco India BSE Sensex Index Fund NFOs on the BSE StAR MF platform from April 28 to May 5, 2026.

Summary

BSE has announced the enabling of the SMART Switch feature on the BSE StAR MF platform for the NFOs of Invesco India Nifty Bank Index Fund and Invesco India BSE Sensex Index Fund. The feature is available from April 28, 2026 through May 5, 2026, and allows investors to switch existing Invesco Mutual Fund scheme units into these new NFO schemes via lump sum subscription in non-Demat mode only.

Key Points

  • SMART Switch is enabled for Invesco India Nifty Bank Index Fund and Invesco India BSE Sensex Index Fund NFOs from April 28 to May 5, 2026
  • Available via Manual Entry, Web-based Interface, APIs, and Bulk Upload
  • Feature is restricted to Invesco Mutual Fund schemes, plans, and options listed in Annexure I
  • Units under Regular Plan – Growth Option of Invesco India Overnight Fund switch only into the Growth Option of the NFO scheme; same logic applies for Direct Plan – Growth Option
  • New schemes have been enabled in the Scheme Master to accept subscriptions under SMART Switch (Annexure III)
  • All purchase transactions under NFO SMART Switch are processed as normal purchases and reported to the RTA on the transaction day, subject to fund confirmation
  • Switch transactions are reported to the RTA on May 7, 2026
  • Only lump sum subscriptions are permitted; Demat mode is not allowed
  • Switch-out is processed on a FIFO basis; only newly purchased units under the NFO SMART Switch plan are considered for switch-out when an investor already holds units in an eligible scheme

Regulatory Changes

No new regulatory changes. This is an operational enablement notice for a platform feature specific to Invesco Mutual Fund NFOs on BSE StAR MF.

Compliance Requirements

  • Members must use appropriate scheme credentials from Annexure IV strictly per investor requirements when using Direct APIs, API-based platforms, or Bulk Upload options
  • Members should refer to Annexure I for accurate scheme identification
  • Members may track SMART Switch orders via the Remarks column in the Provisional Order Report and Order Status Report on BSE StAR MF

Important Dates

  • April 28, 2026: SMART Switch feature enabled on BSE StAR MF
  • May 5, 2026 (2:30 PM): Deadline for accepting transactions under the SMART Switch feature
  • May 7, 2026: Switch transactions reported to the RTA

Impact Assessment

This notice has limited market impact, affecting only BSE StAR MF platform members facilitating transactions in two Invesco NFOs during a defined window. Operationally, members using APIs or Bulk Upload must ensure correct scheme credentials are used. The FIFO-based switch-out logic and restrictions to non-Demat lump sum transactions limit the scope. No impact on broader equities markets or other mutual fund houses.

Impact Justification

Operational notice for BSE StAR MF platform members regarding a time-limited feature for two Invesco NFOs; no broader market or regulatory impact.