The Securities and Exchange Board of India launched “flexi cap fund” category, requiring a minimum investment into equity and equity-related instruments worth 65% of total assets, thereby allowing fund managers to shuffle their allocations freely across small, mid and large-cap stocks. The new regulation would be fruitful for investors who want complete flexibility in ownership of companies, said experts. Earlier, SEBI’s September circular tweaking the categorisation rules for multicap funds raised concerns among the industry.
SEBI introduces “flexi-cap fund” category for mutual funds
