The Securities and Exchange Board of India’s (Sebi’s) proposal to overhaul the expenses charged by mutual funds (MFs) is likely to deliver a combined blow of up to Rs 3,500 crore to asset management companies (AMCs) and broking firms. Rs 3,500 is the estimated amount paid by MFs to brokerages in the 2022-23 financial year and was charged to investors over and above the total expense ratio (TER) of MF schemes, according to Sebi data.
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