NISM-Series V-A: Mutual Fund Certification Exam Notes
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AMC / MF is liable to pay GST under reverse charge on commission paid to unregistered distributors
SEBI has mandated Mutual Funds / AMCs to disclose the total commission and expenses paid to distributors who have - Multiple point of presence (More than 20 locations), AUM raised over Rs. 100 crore across industry in the non-institutional category but including high networth individuals (HNIs), Commission received of over Rs. 1 crore p.a. across industry, Commission received of over Rs. 50 lakhs from a single Mutual Fund/AMC
The unit-holders' funds in the scheme is commonly referred to as 'net assets'.
Net asset includes the amounts originally invested, the profits booked in the scheme, as well as appreciation in the investment portfolio.
The difference between the NAV and Re-purchase Price is called the 'exit load'.
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