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MF News Now, you can see TER of all the schemes at one place

Now, you can see TER of all the schemes at one place

AMFI has introduced a new feature on its website through which you can check TER of all MF schemes.
Nishant Patnaik Jun 19, 2018

Following SEBI’s direction to fund houses to disclose total expense ratio (TER) of each scheme under both regular and direct plans on a daily basis, AMFI has introduced a new feature in its website through which you can visit the link of such disclosures of all fund houses at one place.

In addition, SEBI has changed the format of TER disclosure on a scheme information document (SID). Under this new format, fund houses will have to disclose prominently the TER of regular and direct plan in a specified format.

You can login to www.amfiindia.com and simply click on ‘TER of MF Scheme’ on the left hand side of the webpage to check TER. Once you select the fund house, the system will land you to a separate tab called ‘Total Expense Ratio of Mutual Fund Schemes’ of the fund house. Finally, you have to choose the scheme and date for which you want to check TER to download the TER spreadsheet.

It is pertinent to mention here that this disclosure has come after SEBI observed frequent changes in TER in MF schemes. In addition, SEBI found that a few AMCs do not intimate investors about such changes. “AMCs  shall  prominently  disclose  on  a  daily  basis,  the  TER (scheme-wise, date-wise) of all schemes under a separate head – Total Expense Ratio  of  Mutual  Fund  Schemes  on  their  website  and on  the  website of AMFI in downloadable spreadsheet format,” said SEBI in a circular.

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3 Comments
Viktor · 3 months ago
As shown on the AMFI website, the NAV for Kotak Standard Multicap (Regular plan), for FY18-19 (till date) ranges between 1.50% to 2.33%. At the same time the NAV for Direct plan varies between 1% and 1.25%. What is the reason for such a variation? Is it true for all the schemes?
Ajay Sharma · 3 months ago
Merely mentioning TER in % terms doesn't serve much purpose to an investor and usually perceived as commissions doled out to distributors. SEBI should ask AMC to disclose various components of TER at least on monthly basis. Like how much was dedicated to research and fund management, on sales and marketing, on distributor's commission, on operations, on compliance to know exactly how the money charged to them is being spent.
Laxmikant · 3 months ago
You are absolutely right , Ajay.
Displaying the TER is just responding to AMFI's guidelines. It does not serve rhe purpose in true spirit. The components of TER should also be displayed.
This will I directly give justice to small IFA's.
Investor feels that the amount of TER goes fully to all IFA's, small or big. Infact, a smaller portion goes to small IFA's as commision and much large partion goes to Big IFA's as International conventions etc.
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