Sebi has asked mutual fund houses to classify mutual fund schemes under five broad categories to cut through the clutter of similar plans and help in making better decisions. Photo: Aniruddha Chowdhury/MintMumbai: The Association of Mutual Funds in India (Amfi) will ask the Securities and Exchange Board of India (Sebi) to reconsider its new norms on mutual fund classification, said two people with direct knowledge of the matter. Sebi’s new norms prescribed that an equity large cap fund would need to consist of at least 80% large cap stocks. After getting a feedback from all the fund houses Amfi will send a formal communication to the regulator,” said the first person cited earlier. So, industry raising the concerns later seems incorrect,” said Manoj Nagpal, chief executive officer of Outlook Asia Capital, a Mumbai-based mutual fund advisory firm.

Source: Mint November 06, 2017 20:03 UTC