Shares of major asset management companies (AMCs) fell sharply on Wednesday as the market reacted to a regulatory move by SEBI aimed at revamping mutual-fund fee structures.

Among the hardest hit was HDFC Asset Management Company, which dropped around 6.3 per cent — its steepest single-day fall since June 2024. Other AMCs such as Nippon Life India Asset Management, UTI AMC and Aditya Birla Sun Life AMC, also declined alongside sector peer losses.

What are SEBI’s proposals

SEBI has proposed a comprehensive overhaul of the mutual-fund regulations. Key elements include the base expense ratio slabs revised upward by 5 basis points for open-ended equity schemes, excluding statutory levies such as STT, GST and stamp duty from the Total Expense Ratio (TER) limits, and tightening brokerage lim

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