SBI Mutual Fund, Axis MF, Mirae increase expense ratio of direct plans

Direct plans of equity schemes of most of the big mutual fund houses to become costlier due to increase in the base total expense ratio (TER) under these schemes. Top AMCs including SBI Mutual Fund, ICICI Pru Mutual Fund, Nippon India Mutual Fund, Axis Mutual Fund, Franklin Templeton Mutual Fund, DSP Mutual Fund and Mirae Asset Mutual Fund announced to increase the base TER of their equity schemes- direct plan in August and late July. Here are the details.

SBI Mutual Fund in its last circular on change in TER of schemes announced an increase in the base TER of SBI Bluechip Fund from 0.84% to 0.88%. SBI Small Cap saw an increase in base TER by 10 bps to 0.82%. 1 bps is 0.01%. The revised expense ratio applied from July 30.

ICICI Prudential Mutual has increased total expense ratio of direct plan of some of its signature equity schemes which will come into force on August 20. The schemes which saw an increase in the cost include ICICI Prudential Banking & Financial Services Fund, ICICI Prudential Value Discovery Fund, ICICI Prudential Multi-Asset Fund, ICICI Prudential Midcap Fund, ICICI Prudential Large & Mid Cap Fund, ICICI Prudential Infrastructure Fund, ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund and ICICI Prudential Long Term Equity Fund, the tax saving scheme. See table .

Nippon India Mutual Fund has also increased the total expense ratio under the regular and direct plan of three of its equity schemes namely Nippon India Growth Fund, Nippon India Multi Cap Fund and Nippon India Focused Equity Fund with effect from August 6. See table below for details.

Kotak Mutual Fund announced to increase the base TER of regular plan of Kotak Equity Arbitrage Fund from base TER of 0.94% to 0.96% with effect from August 19.

Axis Mutual Fund in July issued notices for change in total expense ratio of its equity schemes including Axis Bluechip Fund, Axis Multicap Fund. Axis Midcap Fund, Axis Focused 25 Fund. The revised expense ratio came into force in the last week of July. See table for details.

Franklin Templeton Mutual Fund increased total expense ratio in direct plans of Franklin India Opportunities Fund from 1.19% to 1.24%, Templeton India Equity Income Fund by 6 bps to 1.06% and Templeton India Value Fund from 1.28% to 1.30%. The revised expense ratios came into force on July 30.

DSP Mutual Fund also made changes to the base TER under direct plan of some of its signature schemes with effect from August 4. The schemes that became costlier included DSP Equity Opportunities Fund, DSP Small Fund, DSP Mid Cap Fund, DSP Tax Saver and DSP Equity Fund.

Mirae Asset Mutual Fund revised base TER in direct plans of Mirae Asset Equity Savings Fund, Focused fund, Mirae Aset Tax Saver Fund and Mirae Healthcare Fund from August 19 as below.