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The Securities and Exchange Board of India (Sebi) is pushing mutual funds to merge common investment plans and cut high expenses charged to investors.
The markets regulator proposes to introduce rules to that effect as part of the next set of reforms after 2012 when it allowed investors to buy directly from fund houses and save on broker commissions and removed internal sub-limits within the expense ratio.
The expense ratio is the percentage of assets spent to run a mutual fund. A lower expense ratio bodes well for investors. Removing internal sub-limits allowed fund houses more flexibility in deciding how they wanted to spend the money they received from investors towards the expense ratio.
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