MF News HDFC MF pays SEBI Rs.3.79 crore to settle proceedings

HDFC MF pays SEBI Rs.3.79 crore to settle proceedings

The alleged violations related to expense ratio, NAV declaration, portfolio and excess charges.
Team Cafemutual Dec 5, 2018

HDFC MF has settled a case of alleged multiple violations which included:

  1. Maturity of a security exceeded the maturity of the scheme
  2. Difference in TER for direct and regular plans was lower than the commission paid to the distributors in certain schemes
  3. Excess charges debited for certain years were credited after a period of more than one year
  4. NAVs of certain schemes were not published on its website
  5. Error in valuation of unlisted equity shares of a company

HDFC MF remitted the amount to the regulator on November 22, 2018.

Click to clap
1 Comment
B CH SWAMY · 4 months ago
It indicates the transparency in HDFC AMC.
Wish to stay on top of your game? Get daily tips, ideas and articles to grow your business.
Subscribe to Cafemutual Newsletter.