There is a sense of deja-vu among many stakeholders of the domestic mutual fund industry after the market regulator, Securities and Exchange Board of India (SEBI), capped the expenses of mutual funds and linked them to the assets under management (AUMs). Almost nine years ago, when SEBI had banned the entry load, doomsayers had predicted the end of the mutual fund industry in India. Nine years down the line, mutual fund industry has emerged stronger than ever. The growth in mutual fund industry has been phenomenal. Since year 2009, the domestic AUMs have witnessed an annual growth of 17%. It has increased from around Rs5 lakh crore to Rs25 lakh crore.