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<h1>SEBI's Fourth Amendment to Mutual Funds Regulations Caps Total Expense Ratio, Enhances Transparency and Cost Efficiency.</h1> The Securities and Exchange Board of India (SEBI) issued the Fourth Amendment to the Mutual Funds Regulations, 1996, effective April 1, 2019. The amendment introduces a new sub-regulation defining equity-oriented schemes and revises the limits on the total expense ratio (TER) for various mutual fund schemes. For schemes investing a minimum of 65% in equity, the TER is capped at different percentages based on the type of scheme, such as fund of funds, index funds, and open-ended schemes. The amendment also specifies TER limits for close-ended and interval schemes, ensuring transparency and cost efficiency in mutual fund operations.