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SBI MF sold shares worth Rs 1,736 crore bringing its holding to 2.92%, while UTI MF sold shares worth Rs 508 crore. Meanwhile, Nippon MF and HDFC MF sold shares worth Rs 302 crore and Rs 205 crore, respectively, reducing its holding in Jio Financial Services to 4.6% and 2.3%. ....
Synopsis Despite the rise in expense ratio by fund houses, it is reasonable; investors should continue with these funds, say analysts Getty Images Mumbai: Investors in at least four large index funds among the cheapest equity schemes will have to shell out more money every year to asset managers to handle their money. SBI Mutual, HDFC Mutual, UTI Mutual and Tata Mutual have raised the Total Expense Ratio the annual fee that fund houses deduct from unitholders of index funds that track the Nifty and Sensex by at least 77% in recent weeks. While HDFC MF has doubled the expense ratio of the Nifty 50 index fund and the Sensex fund in the direct plans from10 basis points (bps) to 20 bps, SBI MF and UTI MF have raised expense in the Nifty 50 fund from 9 bps to 16 bps and 10 bps to 19 bps, respectively. Tata has raised the expense ratio in the direct plan of Nifty 50 fund from 5 bps to15 bps. The expense ratio in the Sensex index plan rose from 5 bps to 80 bps. ....