Mumbai, Dec. 18 -- The move was seen as a structural positive for the industry. Nippon Life India Asset Management surged 6.48%. HDFC Asset Management Company rose 4.49%. UTI Asset Management Company gained 3.93%. Nuvama Wealth Management added 3.37%. Aditya Birla Sun Life AMC climbed 2.77%, while Motilal Oswal Financial Services advanced 2.18%.

SEBI on Wednesday (17 December 2025) decided to lower mutual fund expense ratio limits, now termed the Base Expense Ratio or BER. The BER will exclude all statutory levies such as GST, stamp duty, SEBI fees and exchange charges. The regulator also clarified that the total expense ratio will not be calculated by adding these levies to the BER.

The revised norms apply across a wide spectrum of pro...