With talk of markets regulator Securities and Exchange Board of India (Sebi) wanting to reduce the permitted expense ratios for mutual fund schemes, the Foundation of Independent Financial Advisors (Fifa) says Indian funds are among the least expensive globally.
The body has contradicted a report on expense ratios brought out by MF tracker Morningstar last year. Morningstar had computed the total expense ratio, or TER, for equity funds to be 2.65 per cent for India. Fifa says its study shows the TER for equity-oriented funds is 2.07 per cent, or 1.81 per cent after reduction of service tax charges of 14.5 per cent. This makes India the fifth least expensive of the 25 countries reviewed by Morningstar last year.
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