Sebi may bring in rules for merger of mutual fund schemes

India’s capital markets regulator intends to introduce rules that will force mutual funds to merge schemes in the same investment categories, driving long-pending consolidation in an industry that has hitherto ignored informal requests for ending the surfeit of plans. 

Broadly put, if a mutual fund has two equity schemes with mandates to invest in large-cap stocks, the asset manager will have to merge the investment products once the new rules proposed by the Securities and Exchange  Board of India kicks in.

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