Auditors fee for the inspection of Mutual Funds - (03-08-200

CMA KNVV Sri Vidya - Sri Kanth (C.A.Final (New) ICWAI FINAL (New))   (11269 Points)

04 August 2009  

Auditors fee for the inspection of Mutual Funds - (03-08-2009)
Fee structure for inspection of mutual funds, from the year 2008-09:
Sl. No. Category AUM Fees (in Rs.)
01 A 0-100 Crores 70,000
02 B 101-1000 Crores 70,000 for the first Rs. 100 Crores + Rs. 15,000 for every additional Rs. 100 Crores
03 C 1001-4000 Crores 2,05,000 for the first 1000 Crores + Rs. 15,000 for every additional Rs. 300 Crores
04 D 4001-15000 Crores 3,55,000 for the first 4000 Crores + Rs.20,000 for every additional Rs. 2000 Crores
05 E 15001-35000 Crores Rs. 4,65,000 for the first 15000 Crores + Rs. 22,500 for every additional Rs. 3000 Crores
06 F 35001-65000 Crores 6,15,000 for the first 35000 Crores + Rs. 27,500 for every additional Rs. 4000 Crores with maximum of Rs.8,00,000
07 G 65001 and above Crores 850000
  • The fund size is to be determined on the basis of the average net assets value of all schemes as at the beginning and close of the inspection period.
  • Fees mentioned above cover one year functioning of a Mutual Fund. If the inspection period covers more or less than one year, then the fee payable would be effective pro rata.
  • The out of pocket expenses would be payable only for traveling, if any, out of the headquarters which should be reimbursed on a reasonable basis.