What is the difference between BER and TER in mutual funds?

TER is the all-in expense investors see today, which mixes management fees, distribution, brokerage, GST, and other levies. SEBI’s update splits this into a Base Expense Ratio for controllable costs and separate lines for statutory charges. The split improves transparency, helps you compare funds better, and shows where savings actually come from. Over time, clearer labels can drive fairer pricing and encourage AMCs to pass scale benefits to investors.

How could SEBI expense ratio changes 2025 affect HDFC AMC share price?

Lower BER caps and brokerage ceilings can compress fee income and raise the bar on operating efficiency. A 6–8 bps cut looks small, but across large AUM it adds up. The market will weigh product mix, pass-through to investors, cost savings, and flow trends. Strong execution can offset pressure. Updates on disclosures and margins in 2025 will likely influence how traders price HDFC AMC share price during results and commentary.

Will investor costs fall meaningfully under the new rules?

Costs should fall, but by a modest amount, often around 6–8 bps, based on current guidance. The bigger gain is clarity: you will see the base expense separately from taxes and other levies. Lower brokerage caps should also limit hidden trading costs. Over long horizons, even small cuts compound. Still, fund selection, asset mix, and behavior tend to matter more than a few basis points of annual charges.

What should I do with my mutual funds after these SEBI changes?

Do not rush to switch based only on small fee cuts. First, review your goals, asset mix, and time horizon. Then check the factsheet for the BER split, turnover, and performance against the benchmark. If you use advice and are happy with outcomes, staying in regular plans may be fine. If you are confident managing money yourself, direct plans can save more. Keep costs low, stay diversified, and review annually.

Global Market Insights

HDFC AMC Share Price Today, December 22: SEBI’s BER–TER Overhaul Puts AMC Fees and Broker Margins in

ByHuzaifa Zahoor December 23, 2025December 23, 2025

HDFC AMC share price is in focus today as SEBI’s new expense framework reshapes how mutual funds charge investors. The regulator has split a Base Expense Ratio from statutory levies, trimmed BER caps across categories, and tightened brokerage costs. The expected investor relief looks modest at about 6–8 bps, but fee lines and broker revenues could feel pressure. We explain what changes in 2025, why it matters for HDFC AMC, and how investors can respond.