SIF guide
How to read AUM, TER, and fund manager evidence
A source-first guide to the three fields users most often trust too quickly: AUM, TER, and fund manager names.
Key takeaway
AUM, TER, and fund manager names are decision-critical but easy to misread. Each value needs a source type, date, plan/class context, and review status before it deserves user trust.
Knowledge map
Terms to understand first
AUM / fund size
The asset base disclosed for a scheme or strategy. Check whether the source says month-end AUM, monthly average AUM, fund size, or AAUM because those are not always interchangeable.
TER
Total expense ratio or expense language. Read plan/class context and whether the value is actual, estimated, maximum, or a permitted cap.
Fund manager evidence
The official source for who manages the SIF. Manager names can change, so the source date matters.
Second review
The platform step that confirms a field against an official source before public promotion.
Section 1
AUM is a label-sensitive field
AUM may appear as fund size, month-end AUM, monthly average AUM, or AAUM. Those labels can answer different questions. Preserve the exact official label instead of flattening every number into one generic field.
Section 2
TER needs plan and status context
TER is not just a number. The user needs to know whether it is for regular or direct plan, whether it is actual or estimated, and whether the source is a factsheet, TER disclosure, or scheme document.
Section 3
Manager names need freshness
A manager name is useful only when the source is current enough and matched to the exact SIF. A dated factsheet can be official and still require a newer check before public reliance.
Research framework
Field promotion rule
Use this before moving a field from research note to public fact.
- 1Identify the exact scheme and plan/class the value belongs to.
- 2Record the source type, source date, document date, and evidence locator.
- 3Preserve the source label, such as fund size, month-end AUM, monthly average AUM, TER, estimated TER, or maximum permitted expense.
- 4Check for conflicts against another official source.
- 5Promote only after second review or keep the value visibly guarded.
Evidence table
How to read the data
Separate what a field can tell you from the official evidence needed before relying on it.
| Field | Read as | Evidence needed |
|---|---|---|
| AUM | Scale, early traction, capacity context, and sometimes liquidity context. | Latest factsheet or official AMC AUM/AAUM disclosure with exact label and date. |
| TER | Recurring cost drag, but only if plan/class and actual-vs-estimated status are clear. | Factsheet, TER disclosure, KIM/ISID, or AMC expense document with plan context. |
| Fund manager | Accountability and investment-process context, not a performance guarantee. | AMC factsheet, product page, ISID/KIM, or manager profile with date. |
| Exit load / liquidity | Whether a strategy is practically usable for the investor's time horizon. | KIM/ISID, product page, addendum, or transaction terms. |
Live examples
Connect the guide to tracked SIFs
Mistakes to avoid
Mixing month-end AUM with monthly average AUM without preserving the source label.
Showing estimated or maximum TER as if it were an actual current TER.
Using a manager name from an old factsheet after a newer document exists.
Treating higher AUM as automatically better without strategy capacity context.
Practical checklist
Before you rely on this topic
Preserve exact AUM label and date.
Separate actual TER from estimated, maximum, or permitted expense language.
Check manager names against latest official documents.
Keep conflicts visible until resolved from official sources.
Source trail
Where to verify next
Continue this pathway
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