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Principal Mutual Fund Settles Allegations Of Over-Charging Investors
Principal Mutual Fund Settles Allegations Of Over-Charging Investors
Source: Bloomberg Quint Mar 31, 2018
Market regulator Securities and Exchange Board of India has accepted the consent pleas of Principal Mutual Fund, its trustee, and its asset management company for allegedly violating the total expense ratio limits.
All three entities - Principal Mutual Fund, Principal Trustee Company Pvt., and Principal PNB Asset Management Company Pvt. - will pay Rs 25.90 lakh each to settle the matter, according to the order posted on SEBI’s website. The three units had allegedly miscalculated the total expense ratio in the books of accounts, resulting in a breach of maximum permissible total expense ratio limits.
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