{"id":45300,"date":"2026-01-21T12:40:08","date_gmt":"2026-01-21T07:10:08","guid":{"rendered":"https:\/\/edunovations.com\/currentaffairs\/?p=45300"},"modified":"2026-01-21T12:40:13","modified_gmt":"2026-01-21T07:10:13","slug":"performance-based-mutual-fund-rules","status":"publish","type":"post","link":"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/","title":{"rendered":"Performance-Based Mutual Fund Rules SEBI 2026 | Key Insights for Exams"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Performance-Based_Mutual_Fund_Rules_SEBI_2026_improve_transparency_Base_Expense_Ratio_and_investor_protection_Learn_key_takeaways_for_exams_like_Banking_SSC_and_Civil_Services\" >Performance-Based Mutual Fund Rules SEBI 2026 improve transparency, Base Expense Ratio, and investor protection. Learn key takeaways for exams like Banking, SSC, and Civil Services.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#%F0%9F%93%8C_New_Mutual_Fund_Rules_SEBI_Allows_Performance-Based_Expense_Structure_Starting_April_2026\" >\ud83d\udccc New Mutual Fund Rules: SEBI Allows Performance-Based Expense Structure Starting April 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Introduction_to_the_New_SEBI_Mutual_Fund_Rules\" >Introduction to the New SEBI Mutual Fund Rules<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#What_Are_the_Key_Changes_in_the_Expense_Structure\" >What Are the Key Changes in the Expense Structure?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Enhanced_Transparency_and_Disclosure_Requirements\" >Enhanced Transparency and Disclosure Requirements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Stronger_Governance_and_Oversight_Norms\" >Stronger Governance and Oversight Norms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Rationalisation_of_Brokerage_Caps\" >Rationalisation of Brokerage Caps<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#%F0%9F%93%8C_Why_This_News_Is_Important_for_Competitive_Exams\" >\ud83d\udccc Why This News Is Important for Competitive Exams<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Relevance_for_Exam_Aspirants\" >Relevance for Exam Aspirants<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Exam-Oriented_Learning_Benefits\" >Exam-Oriented Learning Benefits<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#%F0%9F%93%8C_Historical_Context_Background_of_SEBI_Mutual_Fund_Rules\" >\ud83d\udccc Historical Context: Background of SEBI Mutual Fund Rules<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Evolution_of_Mutual_Fund_Regulations_in_India\" >Evolution of Mutual Fund Regulations in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Old_Expense_Structure\" >Old Expense Structure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Past_Reforms\" >Past Reforms<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#%F0%9F%93%8C_Key_Takeaways_from_%E2%80%9CSEBI_Allows_Performance-Based_Expense_Structure_Starting_April_2026%E2%80%9D\" >\ud83d\udccc Key Takeaways from \u201cSEBI Allows Performance-Based Expense Structure Starting April 2026\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#FAQs_Frequently_Asked_Questions\" >FAQs: Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#1_What_are_the_new_SEBI_rules_for_mutual_funds_starting_April_2026\" >1. What are the new SEBI rules for mutual funds starting April 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#2_What_is_the_Base_Expense_Ratio_BER\" >2. What is the Base Expense Ratio (BER)?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#3_How_does_performance-based_expense_structure_work\" >3. How does performance-based expense structure work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#4_Why_are_brokerage_caps_being_reduced\" >4. Why are brokerage caps being reduced?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#5_How_will_these_rules_impact_investors\" >5. How will these rules impact investors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#6_Which_exams_can_include_questions_on_these_SEBI_rules\" >6. Which exams can include questions on these SEBI rules?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/edunovations.com\/currentaffairs\/national\/performance-based-mutual-fund-rules\/#Some_Important_Current_Affairs_Links\" >Some Important Current Affairs Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Performance-Based_Mutual_Fund_Rules_SEBI_2026_improve_transparency_Base_Expense_Ratio_and_investor_protection_Learn_key_takeaways_for_exams_like_Banking_SSC_and_Civil_Services\"><\/span>Performance-Based Mutual Fund Rules SEBI 2026 improve transparency, Base Expense Ratio, and investor protection. Learn key takeaways for exams like Banking, SSC, and Civil Services.<a href=\"https:\/\/m.economictimes.com\/mf\/mf-news\/amfi-unveils-27-demands-from-budget-2026-requests-separate-deduction-for-elss-investment-in-new-tax-regime\/articleshow\/126789732.cms?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%93%8C_New_Mutual_Fund_Rules_SEBI_Allows_Performance-Based_Expense_Structure_Starting_April_2026\"><\/span>\ud83d\udccc <strong>New Mutual Fund Rules: SEBI Allows Performance-Based Expense Structure Starting April 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction_to_the_New_SEBI_Mutual_Fund_Rules\"><\/span><strong>Introduction to the New SEBI Mutual Fund Rules<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>India\u2019s capital markets regulator, the <strong>Securities and Exchange Board of India (SEBI)<\/strong>, has announced a comprehensive overhaul of mutual fund regulations, which will be implemented from <strong>April 1, 2026<\/strong>. The new framework allows mutual fund schemes to adopt a <strong>performance-linked expense structure<\/strong>, introduces a <strong>Base Expense Ratio (BER)<\/strong> concept, enforces stronger disclosure norms, and enhances governance rules for Asset Management Companies (AMCs). This reform is the first major revamp of mutual fund expense regulations in nearly three decades.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_the_Key_Changes_in_the_Expense_Structure\"><\/span><strong>What Are the Key Changes in the Expense Structure?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>One of the most significant reforms is the introduction of a <strong>performance-based expense component<\/strong>. Under the revised rules, mutual funds can charge a <strong>Base Expense Ratio (BER)<\/strong> tied to how well a scheme performs against pre-specified benchmarks. This aligns fund house compensation more closely with investor returns, moving away from a fixed total expense model.<\/p>\n\n\n\n<p>Additionally, expenses previously grouped under the <strong>Total Expense Ratio (TER)<\/strong> \u2014 such as brokerage, statutory charges like STT (Securities Transaction Tax), GST, and exchange fees \u2014 will now be disclosed separately. This separation is aimed at enhancing transparency in cost disclosures so investors understand exactly what they are paying for.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Enhanced_Transparency_and_Disclosure_Requirements\"><\/span><strong>Enhanced Transparency and Disclosure Requirements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Under the new rules, mutual funds must clearly disclose all cost elements to investors. The Total Expense Ratio (TER) will consist of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Base Expense Ratio (AMC fees)<\/strong><\/li>\n\n\n\n<li><strong>Brokerage and transaction costs<\/strong><\/li>\n\n\n\n<li><strong>Regulatory levies<\/strong><\/li>\n\n\n\n<li><strong>Statutory charges<\/strong> separately disclosed.<br>Such transparency aims to help investors make better comparisons across different funds and evaluate true costs.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stronger_Governance_and_Oversight_Norms\"><\/span><strong>Stronger Governance and Oversight Norms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SEBI has also expanded the responsibilities of trustees and senior management in mutual funds. Enhanced governance rules will require tighter oversight of funds\u2019 operations and compliance, improving investor protection and accountability.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rationalisation_of_Brokerage_Caps\"><\/span><strong>Rationalisation of Brokerage Caps<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The regulator has revised caps on brokerage costs that mutual funds can pay:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>For <strong>cash market transactions<\/strong>, the cap is reduced to <strong>6 basis points (bps)<\/strong>.<\/li>\n\n\n\n<li>For <strong>derivative trades<\/strong>, the new cap is <strong>2 bps<\/strong>.<br>These measures are expected to further lower trading costs for funds and reduce unnecessary expenses on investor portfolios.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\" id=\"Performance-Based-Mutual-Fund-Rules\"><img decoding=\"async\" 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\" alt=\"Performance-Based Mutual Fund Rules\" title=\"Performance-Based Mutual Fund Rules\"\/><figcaption class=\"wp-element-caption\">Performance-Based Mutual Fund Rules<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%93%8C_Why_This_News_Is_Important_for_Competitive_Exams\"><\/span>\ud83d\udccc <strong>Why This News Is Important for Competitive Exams<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Relevance_for_Exam_Aspirants\"><\/span><strong>Relevance for Exam Aspirants<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This news is significant for competitive exams such as <strong>SSC, Banking, Railways, Police, Defence, and Civil Services (PCS, IAS, etc.)<\/strong> because financial market reforms often appear in sections covering the <strong>Indian Economy<\/strong>, <strong>Financial Regulations<\/strong>, and <strong>Banking &amp; Finance<\/strong>. Understanding SEBI\u2019s regulatory actions helps students gain insights into how India\u2019s capital markets evolve to protect investors and improve transparency.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exam-Oriented_Learning_Benefits\"><\/span><strong>Exam-Oriented Learning Benefits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Policy &amp; Regulation:<\/strong> The new mutual fund rules reflect broader trends in <strong>financial regulation<\/strong> aimed at enhancing investor protection \u2014 a common topic in General Awareness sections.<\/li>\n\n\n\n<li><strong>Financial Literacy:<\/strong> Concepts like <strong>expense ratios<\/strong>, <strong>brokerage caps<\/strong>, and <strong>performance-based fees<\/strong> are crucial for bank and finance exam questions.<\/li>\n\n\n\n<li><strong>Economic Impacts:<\/strong> A deeper comprehension of how transparency and cost structures impact <strong>investment decisions and retail investor trust<\/strong> helps in essays and interview discussions.<\/li>\n\n\n\n<li><strong>Govt-Market Interface:<\/strong> SEBI is a key financial regulator; updates from this body are frequently tested in elite competitive exams.<\/li>\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%93%8C_Historical_Context_Background_of_SEBI_Mutual_Fund_Rules\"><\/span>\ud83d\udccc <strong>Historical Context: Background of SEBI Mutual Fund Rules<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Evolution_of_Mutual_Fund_Regulations_in_India\"><\/span><strong>Evolution of Mutual Fund Regulations in India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The <strong>Securities and Exchange Board of India (SEBI)<\/strong> was established in 1992 to regulate India\u2019s securities markets. Over time, SEBI developed a comprehensive framework for mutual funds to promote transparency, protect investors, and ensure fair market conduct.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Old_Expense_Structure\"><\/span><strong>Old Expense Structure<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Historically, mutual funds used a <strong>Total Expense Ratio (TER)<\/strong> that bundled all fees \u2014 management charges, brokerage, statutory levies, and distribution costs \u2014 into a single figure. Critics argued that this lack of detailed disclosure made it difficult for investors to understand true costs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Past_Reforms\"><\/span><strong>Past Reforms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the past decade, SEBI has consistently aimed to rationalize fund costs, tighten brokerage fees, and improve investor returns. Previous changes included capping certain fees and excluding statutory charges from TER caps to reflect actual costs.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%93%8C_Key_Takeaways_from_%E2%80%9CSEBI_Allows_Performance-Based_Expense_Structure_Starting_April_2026%E2%80%9D\"><\/span>\ud83d\udccc <strong>Key Takeaways from \u201cSEBI Allows Performance-Based Expense Structure Starting April 2026\u201d<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>S. No.<\/strong><\/th><th><strong>Key Takeaway<\/strong><\/th><\/tr><\/thead><tbody><tr><td>1.<\/td><td>SEBI has overhauled mutual fund expense regulations effective <strong>April 1, 2026<\/strong> with a focus on performance-linked fees.<\/td><\/tr><tr><td>2.<\/td><td>Introduction of <strong>Base Expense Ratio (BER)<\/strong> separates AMC fees from other costs to enhance transparency.<\/td><\/tr><tr><td>3.<\/td><td>Mutual funds may charge <strong>performance-based expense structures<\/strong> aligned with returns delivered.<\/td><\/tr><tr><td>4.<\/td><td>Brokerage caps have been reduced to <strong>6 bps<\/strong> for cash markets and <strong>2 bps<\/strong> for derivatives.<\/td><\/tr><tr><td>5.<\/td><td>Stronger <strong>governance and disclosure norms<\/strong> are introduced to protect investor interests.<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">Performance-Based Mutual Fund Rules<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs_Frequently_Asked_Questions\"><\/span><strong>FAQs: Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_What_are_the_new_SEBI_rules_for_mutual_funds_starting_April_2026\"><\/span><strong>1. What are the new SEBI rules for mutual funds starting April 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SEBI has introduced a <strong>performance-based expense structure<\/strong>, a <strong>Base Expense Ratio (BER)<\/strong>, enhanced disclosure requirements, and tighter governance rules for Asset Management Companies. These changes aim to improve transparency and align fund fees with investor returns.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_What_is_the_Base_Expense_Ratio_BER\"><\/span><strong>2. What is the Base Expense Ratio (BER)?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The <strong>BER<\/strong> is a portion of the mutual fund expense ratio that covers management fees and operational costs, separated from statutory charges, brokerage, and transaction costs. It ensures investors know the exact fees charged for fund management.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_How_does_performance-based_expense_structure_work\"><\/span><strong>3. How does performance-based expense structure work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Mutual funds can now charge fees based on how well a scheme performs relative to a <strong>pre-specified benchmark<\/strong>. Higher returns may justify higher expenses, while poor performance may lead to lower charges, aligning interests of investors and fund managers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_Why_are_brokerage_caps_being_reduced\"><\/span><strong>4. Why are brokerage caps being reduced?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SEBI has capped brokerage to <strong>6 bps for cash markets<\/strong> and <strong>2 bps for derivatives<\/strong> to reduce unnecessary trading costs. This ensures investors are not overcharged and promotes cost efficiency in fund operations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_How_will_these_rules_impact_investors\"><\/span><strong>5. How will these rules impact investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The reforms improve <strong>cost transparency<\/strong>, allow better <strong>comparison between mutual funds<\/strong>, and incentivize fund managers to deliver <strong>higher returns<\/strong>, which can ultimately benefit investors in the long term.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_Which_exams_can_include_questions_on_these_SEBI_rules\"><\/span><strong>6. Which exams can include questions on these SEBI rules?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>These rules are relevant for <strong>Banking, SSC, Railways, Defence, and Civil Service exams<\/strong> where topics like <strong>Indian Economy, Financial Markets, and Regulatory Bodies<\/strong> are tested.<\/p>\n\n\n\n<p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Current_Affairs_Links\"><\/span>Some Important Current Affairs Links<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/national\/\" target=\"_blank\" rel=\"noreferrer noopener\">State Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline 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href=\"https:\/\/edunovations.com\/currentaffairs\/category\/railway\/\" target=\"_blank\" rel=\"noreferrer noopener\">Railways Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/defence\/\" target=\"_blank\" rel=\"noreferrer noopener\">Defence Current Affairs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--4\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs?newsmaticargs=custom&amp;posts=today\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--5\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairsinhindi\/\" target=\"_blank\" rel=\"noreferrer noopener\">Current Affairs In Hindi<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/news-and-notifications\/\" target=\"_blank\" rel=\"noreferrer noopener\">News and Notifications<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1.jpg\" alt=\"Download this App for Daily Current Affairs MCQ&#039;s\" class=\"wp-image-247\" title=\"\" srcset=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1.jpg 900w, 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Learn key takeaways for exams like Banking, SSC, and Civil Services. \ud83d\udccc New Mutual Fund Rules: SEBI Allows Performance-Based Expense Structure Starting April 2026 Introduction to the New SEBI Mutual Fund Rules India\u2019s capital markets regulator, the Securities and Exchange Board&#8230;<\/p>\n","protected":false},"author":6,"featured_media":45336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,144],"tags":[3283,33163,595,3680,4029,12256,8173,33164,4201,22481],"class_list":["post-45300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-economy_finance","tag-banking-exams","tag-base-expense-ratio","tag-civil-services","tag-financial-news","tag-financial-regulations","tag-investor-protection","tag-mutual-funds","tag-performance-linked-fees","tag-sebi","tag-ssc-current-affairs"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/45300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/comments?post=45300"}],"version-history":[{"count":3,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/45300\/revisions"}],"predecessor-version":[{"id":45340,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/45300\/revisions\/45340"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media\/45336"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media?parent=45300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/categories?post=45300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/tags?post=45300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}