A Sebi internal study calculated the excess amount collected from mutual fund investors to be around Rs1,600-1,700 crore as of December. Mumbai: Asset managers have overcharged mutual fund investors by as much as Rs1,500 crore in the last five years by unfairly charging fees, according to an internal study by the market regulator. A Securities and Exchange Board of India (Sebi) advisory committee has recommended that asset managers credit the excess charges collected by them back into the mutual fund schemes. An exit load is a cost imposed on investors when they redeem a scheme within a pre-specified time period. The Sebi internal study calculated the amount collected from this 20 bps charge to be around Rs1,600-1,700 crore as of December.

Source: Mint March 28, 2018 02:03 UTC