Advisors unhappy as HDFC MF, UTI MF raise expense ratio on index funds
UTI Mutual Fund, the company plans to hike the TER on its UTI Nifty Index Fund from 16 April
HDFC Mutual fund has proposed to increase TER on two index funds from 15 April—HDFC Index Fund-NIFTY 50 and HDFC Index Fund-Sensex Plan
On 9 April, Sebi registered investment advisor Basavaraj Tonagatti started receiving emails from his clients. The message contained notifications from HDFC Mutual Fund and UTI Mutual Fund informing investors that the fund houses were raising the total expense ratio (TER) on their index funds.