Motilal Oswal AMC cuts TER of its mutual fund schemes

Scheme NameRegular PlanDirect PlanExisting TERRevised TERExisting TERRevised TERMotilal Oswal Focused 25 Fund2.632.301.311.06Motilal Oswal Midcap 30 Fund2.622.241.230.99Motilal Oswal Multicap 35 Fund2.151.961.340.98Motilal Oswal Long Term Equity Fund2.522.271.451.05Motilal Oswal Dynamic Fund2.362.181.501.15Motilal Oswal Equity Hybrid Fund2.942.881.451.26Motilal Oswal Mutual Fund announced the revised total expense ratio TER ) of its schemes today. The change is in accordance with the Sebi Circular on ‘Total Expense Ratio (TER) and Performance Disclosure for Mutual Funds’, dated October 22.The AMC has reduced TER of both the regular and direct plan of the schemes. Revised expense ratios are as below:The AMC mentions that the reduced expense ratio makes it even cheaper for investors. Reduction in TER allows a little more of investors’ money to get invested and hence the returns are likely to improve to the extent of the reduced expense ratio.Sebi came out with the circular to bring transparency in expenses, reduce portfolio churning and misselling in mutual fund schemes.Sebi circular reads, ‘all scheme related expenses including commission paid to distributors, by whatever name it may be called and in whatever manner it may be paid, shall necessarily be paid from the scheme only within the regulatory limits and not from the books of the Asset Management Companies (AMC), its associate, sponsor, trustee or any other entity through any route.’In the same circular, Sebi also banned upfront commissions to the distributors, asking asset management companies to adopt full train model of commission.The circular further stated that all the fees and expenses charged in a direct plan should not exceed the fees and expenses charged in a regular plan.

November 15, 2018 12:22 UTC

IIT researchers devise programme to maximise LPG connections

Researchers at the Indian Institute of Technology (IIT), Kharagpur have devised a computer programme that will help maximise LPG connections in BPL households in the 'Pradhan Mantri Ujjwala Yojana', a statement issued by the institute said Thursday.An IIT Kharagpur team of researchers, led by Prof Manoj Kumar Tiwari of the Department of Industrial and Systems Engineering, have devised the ' Decision Support System ' (DSS) focusing on the 'Pradhan Mantri Ujjwala Yojana' for maximising (optimizing) the number of LPG connections, particularly in below poverty level (BPL) households, it said.A decision support system (DSS) is a computer programme that helps in making sound rational decisions using mathematical programming and operation research techniques.The DSS mathematical model devised at IIT KGP has found the optimum number of total (BPL) connections required in a region and the number of dealerships that need to be commissioned in a region over the policy time frame, the statement said.This type of mathematical modeling of a policy (LPG) can be used as a reference for mathematical modeling of other policies, the statement said. "This kind of DSS can be developed for various federal and state level policies for various commodities like solar panels distributions, agricultural commodities and so on," it said.This model can not only predict how the number of household connections can be increased but also the region that contributes most in each zone of LPG distribution.The PMUY, launched in May 2016, aimed at providing 5 crore LPG connections by 2019 to BPL families with the support of Rs 1,600 to each family. The government has recently revised the target to 8 crore LPG connections by 2020.While certain areas such as Maharashtra, Tamil Nadu, Bihar, Rajasthan and West Bengal have been well covered, the government needs to pay special attention to regions critical to LPG penetration, such as Assam in the North-East to achieve 100 per cent BPL household penetration, the statement said.

November 15, 2018 12:00 UTC

209 candidates to contest Mizoram Assembly polls

AIZAWL: A total of 209 candidates, 67 higher than in 2013, are contesting the November 28 Mizoram Assembly polls , officials said here on Thursday.According to the officials of Mizoram Election Department, of the 209 candidates, 15 are women.In 2013, only six women contested the elections but none were successful. "The Congress and the Mizo National Front (MNF) have fielded 40 candidates each, while the Bharatiya Janata Party (BJP) has nominated 39 candidates," Mizoram's Joint Chief Electoral Officer Zorammuana told IANS.In the 2013 assembly polls, 142 candidates contested for the 40 assembly seats in the Christian-dominated state.The BJP, which has undertaken intensive efforts to oust the ruling Congress after having formed governments on its own or in alliance with allies in the six northeastern states, excluding Sikkim, had fielded 17 candidates in 2013 and secured only 0.37 per cent of the votes.Last time, the MNF, a regional party, which ruled the state for two terms (1998-2003, and 2003-2008), fielded candidates in 31 seats, and won five seats.The MNF is a constituent of the BJP-led North East Democratic Alliance (NEDA).Political experts predict that after the polls, the MNF might forge an alliance with the BJP to form the government.Meanwhile, the ruling Congress, which has been in power except for ten years -- 1998 to 2008 -- since it became a full-fledged state in 1987, has suffered a major setback during the past two months with five of its leaders, including Home Minister R. Lalzirliana and Assembly speaker Hiphei, quitting the party and resigning from the house.Besides Lalzirliana and Hiphei, three other sitting legislators, Lalrinliana Sailo, Buddha Dhan Chakma -- both former ministers, and Hmingdailova Khiangte have also resigned from the party.While Lalzirliana and Sailo joined the opposition MNF, Hiphei and Chakma joined BJP, and Khiangte would contest the polls as an independent.With these resignations, the Congress' strength in the 40-member house has been reduced to 29.Like the previous elections, women voters once again outnumber the men in Mizoram. Of the 768,181 voters, there are 393,685 women and 374,496 men.

November 15, 2018 11:48 UTC

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