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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. ....
May 12, 2021 At ₹5.04 lakh crore, SBI MF occupies top position ICICI Prudential Mutual Fund has regained its second spot in the list of asset under management as of April-end toppling HDFC MF. Interestingly, SBI Mutual Fund with AUM of ₹5.04 lakh crore retained its numero uno position. ICICI Pru MF recorded an AUM of ₹4.13 lakh crore while HDFC MF’s stood at ₹4.08 lakh crore last month. Previously, the difference between ICICI Mutual Fund and HDFC Mutual was just ₹1,000 crore. Aditya Biral Sun Life Mutual Fund, which is gearing up to get listed on the stock exchange, has occupied the fourth position with an AUM of₹2.66 lakh crore while Kotak MF ranked fifth. ....
MUMBAI: HDFC Mutual Fund on Tuesday sold 2.01% of its holding in SpiceJet in the open market, the airline said in a notification to the BSE on Friday. The aggregate holding of the schemes of HDFC MF in the company as of March 9 is3.03% of the paid-up equity share capital of the company, the notification said. HDFC Trustee Company held 5.05% in SpiceJet at the end of the December quarter. Shares of SpiceJet were down 0.3% at Rs 82.75 in afternoon trade on Friday. The stock has gained 55% in the last six months. Read More News on ....