In a move to declutter and rationalise mutual funds, Securities and Exchange Board of India (SEBI) sets 5 broad categories for mutual fund (MF) schemes. Also defines largecap, midcap and smallcap companies by market capitalisation.
In an interview to CNBC-TV18, Nilesh Shah, Managing Director, Kotak Mahindra AMC shared his views and outlook on the same.
Sebi has done this with twin objective, one from an investor point of view, there were too many schemes which were confusing investors. So Sebi has taken the right steps to rationalise the categories. Second, also to diversify and create a level-playing field in MF industry, he said.