The Securities and Exchange Board of India has introduced a new category of mutual funds that can invest freely across large-, mid- and small-cap stocks, less than two months after a rule change sparked fears that some funds could be forced to reallocate their holdings.
SEBI on Friday announced ‘flexi-cap’ schemes that would have to invest a minimum of 65% of total assets in equity, and allowed fund houses to rename existing schemes to the new category.
SEBI in September sought an equal allocation of 25% for large-, mid- and small-cap shares in so-called multi-cap funds that manage assets worth about $20 billion in a bid to make their investments true to the name of the scheme.
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