Auditors fee for the inspection of Mutual Funds

Last updated: 04 August 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.

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