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The Securities and Exchange Board of India will notify fungibility of expense ratio and exit load to be charged back in the scheme soon.
SEBI Chairman U.K. Sinha announced that these will come into effect from October 1. The decision was taken at its last board meeting on August 16.
These steps aim to help the mutual fund industry. Fungibilty will help the asset management companies managing the expenses by removing the sub-limit.
On the other hand, exit load to be charged back will have impact on the net asset value of a scheme.
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