Amid growing investors' interest in passive funds, some mutual fund houses have curtailed the expense ratio on Nifty 50 exchange traded funds (ETFs), a move that will bring down tracking error and lead to higher returns for passive investors. ICICI Prudential Mutual Fund on Wednesday cut down the expense ratio on its Nifty 50 ETF scheme from 0.05 per cent to 0.0279 per cent, making it the lowest total expense ratio (TER) for a Nifty 50 ETF among its peers.
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