![]() ![]() Class A Shares of the Nuveen equity and asset allocation Funds have a maximum sales charge of 5.75%. The Short Term Bond Fund Class A Shares have a maximum sales charge of 2.25%. Class A Shares of the Core Bond and Floating Rate Income Funds have a maximum sales charge of 3.0%. The Core Plus Bond, Inflation Protected Securities and Strategic Income Funds’ class A Shares have a maximum sales charge of 4.25%. Class A Shares have a maximum sales charge of 4.75% for the Credit Income, NWQ Flexible Income, Preferred Securities and Income, High Yield Income Funds. ![]() Class A Shares of Intermediate National and State Municipal Bond Funds, Strategic Municipal Opportunities and Inflation Protected Municipal Bond Fund have a 3.0% maximum sales charge. Returns assume reinvestment of dividends and capital gains.Ĭlass A Shares of Non-Intermediate National and State Municipal Bond Funds have a 4.2% (2.5% for Limited Term, and Short Duration High Yield, Short Term Municipal Bond Funds) maximum sales charge. Returns without sales charges would be lower if the sales charges were included. Total returns for a period of less than one year are cumulative. Current performance may be higher or lower than the performance shown. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Returns quoted represent past performance which is no guarantee of future results. Please note, there are no exchange privileges between the two fund families. After the first Rs 500 crore, the daily net assets are divided into further slabs on which the TER limits keep decreasing until it reaches 1.05% for equity schemes and 0.8% for non-equity schemes.The Nuveen Family of Funds and the TIAA-CREF Funds are distinct fund families that comprise different investment products, each with its own features, terms and conditions, fee structures and risk factors. For all other open-ended schemes, on the first Rs 500 crore of daily net assets, the TER limit is 2.25% for equity schemes and 2% for non-equity schemes. The TER limit for index funds and exchange traded funds is 1% of the daily net assets. The TER limit for all other fund of funds schemes is 2% of daily net assets. For fund of funds schemes investing in index funds or exchange traded funds, the limit for the TER is 1% of the daily net assets, while the limit for those investing at least 65% of the assets under management in equity schemes is 2.25%. NAV = Net assets / Number of outstanding unitsĪs per the SEBI (Mutual Funds) Regulations 1996, there is an established limit for the TER on various categories of mutual funds. Net assets = Unit Capital + cash profits (or minus losses) + valuation gains (or minus losses) Now, net assets of the mutual fund scheme are calculated as: These incomes minus the scheme expenses constitute the cash profits (or losses). Also, the scheme may earn dividend and interest income. The funds mobilised from investors are invested in stocks and bonds, which appreciate or depreciate in value, resulting in valuation gains (or losses). The number of outstanding units in the scheme, multiplied by the face value of Rs 10, is called the unit capital. ![]() The NAV is the current market value of each unit of the mutual fund scheme, which are initially sold at a face value of Rs 10 per unit to investors. When taken as a ratio of the scheme’s assets, we get the TER. All the above expenses make up the scheme expenses. They also include insurance premiums, audit fees, fees for registrar services, and costs of fund transfer incurred by the scheme, plus certain expenses specific to the type of mutual fund scheme in question. These include the marketing and selling expenses incurred by the scheme, agent commissions paid out, brokerage and transaction costs, costs of documentation, and costs of statutory advertisements. The other main component is what is called recurring expenses. One of the main components of these expenses are investment and advisory fees, which are mainly for the fund manager’s expertise and effort. MUTUAL FUNDS: Know the risks associated with quant fundsĪny mutual fund scheme incurs certain expenses in the running and operations of the scheme. ![]()
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