How to read AUM, TER, and fund manager evidence in SIFs

Three fields users trust too quickly

AUM, TER, and fund manager names look simple, but they are some of the easiest SIF fields to misread.

They should not be copied into a profile unless the source type, date, scheme identity, and field label are clear.

AUM is not always one thing

An official source may say fund size, month-end AUM, monthly average AUM, or AAUM. These labels can answer different questions.

For differentiated equity and smaller SIF strategies, AUM can also become a capacity and liquidity question. A larger number is not automatically better. The right question is whether the strategy can still implement its mandate without hurting liquidity or execution quality.

TER needs plan and status context

TER is useful only when the user knows what the number represents.

Check whether the value is:

• actual TER
• estimated TER
• maximum permissible expense
• regular plan or direct plan
• monthly factsheet value
• separate AMC expense disclosure

If the site cannot tell which one it is, the value should stay guarded.

Fund manager names need freshness

Manager names can change. A manager name from an old factsheet can be official and still need a newer check.

The public profile should show manager information only when the source is matched to the exact SIF and current enough for a user to rely on it as research context.

The review rule

Before promoting AUM, TER, or manager information, the platform should ask:

• Is the scheme identity exact?
• Is the source official?
• What is the source date?
• Does the field label need to be preserved?
• Does another official source conflict?
• Has the value passed second review?

This is the difference between a directory and a research-grade SIF platform.