SEBI directs AMCs not to charge additional 20 bps TER in lieu of exit loads, where exit load not applicable
Feb 02 2018
News Category: Regulatory Updates
The capital market regulator has clarified in a circular that mutual fund schemes, including close-ended schemes, where in exit load is not levied or not applicable, the mutual fund houses shall not be eligible to charge an additional 20 bps TER in lieu of exit loads for such schemes. Further, existing mutual fund schemes including close ended schemes, wherein exit load is not levied or not applicable, shall discontinue, with immediate effect, the levy of above mentioned additional expenses, if any.