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of <h1>Amendments to SEBI Mutual Fund Regulations Clarify Expense Treatment and Amortization for Load and No-Load Schemes</h1> The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended, address the treatment of initial issue expenses for mutual fund schemes. For closed-ended schemes on a 'load' basis, initial issue expenses are amortized over the scheme's period. Unamortized expenses are included in NAV calculations but excluded from determining management fees. In no-load schemes, the asset management company bears the initial expenses. Amendments have clarified amortization and expense treatments, with certain clauses omitted or replaced over time to refine regulatory compliance and investor transparency. Subsequent distribution charges are borne by the scheme in load schemes and by the asset management company in no-load schemes.
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