New Delhi : Sebi on Tuesday asked mutual fund houses to prominently disclose on a daily basis total expenses charged to customers for all schemes under a separate head on their websites as well as Amfi website. The fund houses need to disclose about name of the scheme, base as well as total TER, additional expense and GST for regular and direct mutual funds plan in a prescribed format. The new directive will come into force with immediate effect, it said.
“AMCs shall prominently disclose on a daily basis, the TER (schemewise, date-wise) of all schemes under a separate head – ‘Total Expense Ratio (TER) of MF schemes’ on their website and on the website of Amfi.”
Amfi asked AMCs to pass on to investors the benefit of steep reduction in additional expenses charged for schemes, industry official said. Amfi said the 15 basis points reduction in expenses should be passed on, by reduction in distribution commission by the AMCs, an official said.
( To view our epaper please Tap here . For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)