General Knowledge · General Awareness

Consider the following statements regarding the Mutual Fund regulations and structures in India: Testbook Statement I: An 'Open-ended' Mutual Fund allows investors to enter and exit the scheme at any time at the prevailing Net Asset Value (NAV). Testbook Statement II: The 'Exit Load' is a fee charged by the fund house when an investor redeems units before a specified period, and this fee (excluding taxes) is credited back to the scheme's corpus. Testbook Statement III: A 'Systematic Transfer Plan' (STP) allows an investor to transfer a fixed amount or units periodically from one scheme to another scheme of the same fund house. Testbook Statement IV: The 'Total Expense Ratio' (TER) represents the annual operating expenses of a fund, and a 'Direct Plan' always has a lower TER than a 'Regular Plan'. Testbook Statement V: According to SEBI categorization, a 'Large Cap Fund' must invest at least 80% of its total assets in equity and equity-related instruments of large-cap companies. Testbook Which of the statements given above are correct?