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How often is expense ratio deducted?

Expense ratio states how much you pay a fund in percentage term every year to manage your money

I am new to mutual funds. I want to know how a fund deducts its expense from its Net Asset Value (NAV)? Is it done daily, weekly, monthly or yearly?
- Rahul Pandya

Expense ratio states how much you pay a fund in percentage term every year to manage your money. For example, if you invest ₹10,000 in a fund with an expense ratio of 1.5 per cent, then you are paying the fund ₹150 to manage your money. In other words, if a fund earns 10 per cent and has a 1.5 per cent expense ratio, it would mean an 8.5 per cent return for an investor. Funds' NAVs are reported net of fees and expenses, therefore, it is necessary to know how much the fund is deducting (expense ratio can be found in the half-yearly reports of the AMC or on valueresearchonline.com). It is deducted daily.

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