Fix typos

contributors/index.md

@@ -99,7 +99,7 @@ We've made a small video that you can watch, to get a glimpse on how you can cre
 
 You'll have to know how to use:
 
-* Markdown markdown is probably the most widespread markup language used for writing documentation on the Internet and it's [easy to learn](https://commonmark.org/help/)
+* Markdown is probably the most widespread markup language used for writing documentation on the Internet and it's [easy to learn](https://commonmark.org/help/)
 * Git & GitHub you don't need to be proficient at using Git and GitHub, but it's appreciated if you know how to use them and do basic things like forking repositories and raising pull requests
 
 Once you've gone through the above, you'd be ready to help other contributors, especially beginners, _shipping_ their contributions [🎉](https://emojipedia.org/party-popper/)[🥳](https://emojipedia.org/partying-face/)

faqs/mfs/why-are-index-funds-in-india-not-as-cheap-as-vanguards-index-funds-and-etfs.md

@@ -7,17 +7,17 @@ description: >-
 
 # Why are Index Funds in India not as cheap as Vanguard's Index Funds and ETFs?
 
-Before we begin, Total Expense Ratio (TER) is the amount that investors pay to AMCs for the operative and administrative expenses of managing a mutual fund. If a mutual fund has total assets under management (AUM) of $$₹10,000$$ crores and an expense ratio of $$1\%$$, it charges $$₹100$$ crores as expenses in an year.
+Before we begin, Total Expense Ratio (TER) is the amount that investors pay to Asset Management Companies (AMCs) for the operative and administrative expenses of managing a mutual fund. If a mutual fund has total Assets Under Management (AUM) of $$₹10,000$$ crores and an expense ratio of $$1\%$$, it charges $$₹100$$ crores as expenses in an year.
 
 The difference between regular plans and direct plans of mutual funds is explained in the article linked below. In short, regular plans have an additional cost of distributor commission. This doesn't go to the AMC.
 
 {% content-ref url="direct-vs-regular.md" %}
 [direct-vs-regular.md](direct-vs-regular.md)
 {% endcontent-ref %}
 
-Vanguard's S\&P 500 ETF shares class (VOO) has a TER of $$0.03\%$$ and an AUM of about $$$221$$ billion. This means that it earns about$$$66$$million every year from the ETF shares class. When we combine the AUM from all share classes of Vanguard's S&P 500 fund, the total AUM becomes $$$731.3$$ billion. For reference, the total AUM of the entire Indian mutual fund industry is \$$$431\$$ billion.
+Vanguard's S\&P 500 ETF shares class (`VOO`) has a TER of $$0.03\%$$ and an AUM of about $$\$221$$ billion. This means that it earns about $$\$66$$ million every year from the ETF shares class. When we combine the AUM from all share classes of Vanguard's S&P 500 fund, the total AUM becomes $$\$731.3$$ billion. For reference, the total AUM of the entire Indian mutual fund industry is $$\$431$$ billion.
 
-In contrast, Kotak Flexicap Fund, one of the largest equity funds in India, has an AUM of $$₹34,115$$ crores and a TER of $$0.64\%$$ which means that the AMC gets about $$₹218$$ crores every year. In terms of dollars, that's \$$$29\$$ million.
+In contrast, Kotak Flexicap Fund, one of the largest equity funds in India, has an AUM of $$₹34,115$$ crores and a TER of $$0.64\%$$ which means that the AMC gets about $$₹218$$ crores every year. In terms of dollars, that's $$\$29$$ million.
 
 ### UTI Nifty Index Fund
 
@@ -45,25 +45,25 @@ People might argue that UTI could've reduced their expenses by not spending as m
 
 ### Motilal Oswal S\&P 500 Index Fund
 
-The total AUM of Motilal Oswal S\&P 500 index fund as on 31st March 2021 was $$₹1,088.31$$ crores and its expense ratio has been $$0.49\%$$ since its launch on 28th April 2020. Assuming an average AUM of $$₹504$$ crores, MO would've been able to earn approximately $$₹2.4$$ crores from its S\&P 500 index fund.
+The total AUM of Motilal Oswal (MO) S\&P 500 index fund as on 31st March 2021 was $$₹1,088.31$$ crores and its expense ratio has been $$0.49\%$$ since its launch on 28th April 2020. Assuming an average AUM of $$₹504$$ crores, MO would've been able to earn approximately $$₹2.4$$ crores from its S\&P 500 index fund.
 
 Unfortunately, the scheme financial documents of MO's S\&P 500 fund aren't available yet. It should hopefully be published in the next few months so we can know more about the expense details of MO's S\&P 500 index fund.
 
 ### Vanguard S\&P 500 Fund
 
 The Vanguard S\&P 500 Fund is actually a class of several different funds all collectively known as Vanguard S\&P 500 Fund. The different classes are
 
-|                                                 |            |                         |
-| ----------------------------------------------- | ---------- | ----------------------- |
-| **Vanguard S\&P 500 Share Classes**             | **TER**    | **AUM (as on FY 2020)** |
-| Vanguard 500 Index Fund Investor Shares (VFINX) | $$0.14\%$$ | \$$$4.6\$$ billion      |
-| Vanguard S\&P 500 ETF (VOO)                     | $$0.03\%$$ | \$$$220.6\$$ billion    |
-| Vanguard 500 Index Fund Admiral Shares (VFIAX)  | $$0.04\%$$ | \$$$399.6\$$ billion    |
-| Vanguard 500 Index Institutional Select (VFFSX) | $$0.01\%$$ | \$$$106.7\$$ billion    |
+|                                                   |            |                         |
+| ------------------------------------------------- | ---------- | ----------------------- |
+| **Vanguard S\&P 500 Share Classes**               | **TER**    | **AUM (as on FY 2020)** |
+| Vanguard 500 Index Fund Investor Shares `VFINX` | $$0.14\%$$ | $$\$4.6$$ billion       |
+| Vanguard S\&P 500 ETF `VOO`                     | $$0.03\%$$ | $$\$220.6$$ billion     |
+| Vanguard 500 Index Fund Admiral Shares `VFIAX`  | $$0.04\%$$ | $$\$399.6$$ billion     |
+| Vanguard 500 Index Institutional Select `VFFSX` | $$0.01\%$$ | $$\$106.7$$ billion     |
 
-Each share class has different minimum investment amount requirements and other minor differences. Combined, these share classes have an AUM of $$$731$$ billion. Using the TER and AUM mentioned in the table above, we can come up with an approximate figure of earnings of$$$240\$$ million in the year 2020. The actual amount is probably somewhat lesser since we haven't considered average AUM in this case.
+Each share class has different minimum investment amount requirements and other minor differences. Combined, these share classes have an AUM of $$\$731$$ billion. Using the TER and AUM mentioned in the table above, we can come up with an approximate figure of earnings of $$\$240$$ million in the year 2020. The actual amount is probably somewhat lesser since we haven't considered average AUM in this case.
 
-The total expenses of Vanguard S\&P 500 fund across all of its share classes was $$$184$$ million. This means that Vanguard earned only about$$$50\$$ million in profit.
+The total expenses of Vanguard S\&P 500 fund across all of its share classes was $$\$184$$ million. This means that Vanguard earned only about $$\$50$$ million in profit.
 
 It should be kept in mind that Vanguard itself is structured differently than most AMCs and the company is owned by the investors in its funds. It was founded by the father of index investing, Jack Bogle, who was a proponent of low cost index investing. It would be fair to say that we haven't had any AMCs similar to Vanguard or influential index investing pioneers in India yet.