SEBI made an announcement last week.
It said:
"Transparency in payment of commission to Mutual Fund distributors:
There shall be no Entry Load for the schemes, existing or new, of a Mutual Fund. The upfront commission to distributors shall be paid by the investor to the distributor directly. The distributors shall disclose the commission, trail or otherwise, received by them for different schemes/ mutual funds which they are distributing or advising the investors.".
http://www.moneycontrol.com/india/news/mf-news/sebi-scraps-entry-load-for-mfs-cuts-feesintermediaries/402314
This has *not* come to effect as of date (according to MF Distributor thru whom
I have buying MFs).
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