People might argue that UTI could've reduced their expenses by not spending as much on Marketing & Distribution or Investor Education but considering they don't have enough AUM or TER to make any profits whatsoever, would cutting back on Marketing expenses help UTI at this point? The longer the fund has meager AUM, the longer UTI would suffer losses here. We should also consider that UTI Nifty index fund was launched back in March 2000, more than 20 years ago. I'm not sure if UTI has made any profits on this fund whatsoever and yet we hear people complaining about the TER of this fund being high.