I guess mutual funds do some kind of gold plating their NAV during bad days. i.e *not* charging some fixed charges like distribution expenses/marketing expenses and charging those expenses on subsequent good day(when market rises). All I can say is It is bad practice. How I found this? Sundaram select midcap - regular grew 0.72% on 26 September 2014, its DIRECT counterpart should have grown 0.72 or 0.73% not 0.78%. i.e 0.06% marketting expense on one day equals to 21.9% expense in a year which is not actuality(~0.5%)
Posted on: Sat, 27 Sep 2014 06:23:40 +0000
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