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How Is the 90-Day Holding Period Calculated for Equity Mutual Funds in Nigeria?
For a 90-day holding period in an equity mutual fund, it is not calculated based on working days (Monday–Friday). It is counted as calendar days. What this means: You count every day continuously — including: Saturdays Sundays Public holidays Simple rule: Day 1 = the day after you invest (or the traRead more
For a 90-day holding period in an equity mutual fund, it is not calculated based on working days (Monday–Friday). It is counted as calendar days.
See lessWhat this means:
You count every day continuously — including:
Saturdays
Sundays
Public holidays
Simple rule:
Day 1 = the day after you invest (or the transaction settles, depending on the fund)
Example:
If you invest on 1st June
Start counting from 2nd June
The 90th day will fall around 30th August (depending on exact count)
Important nuance (very critical):
Different fund managers may define the start slightly differently:
Trade date basis → counting starts the next day after purchase
Settlement date basis → counting starts after units are officially allocated
Why this matters:
This 90-day rule is often used for:
Exit load (penalty) avoidance
Eligibility for certain benefits
Short-term vs medium-term classification
Bottom line:
It is Sunday to Saturday (full calendar counting)
Not restricted to business days