Sebi's new rules make mutual funds see red

The Securities and Exchange Board of India’s (Sebi’s) new rules on ‘categorisation and rationalisation of mutual fund (MF) schemes’ are facing a pushback from managers overseeing assets worth Rs 21 lakh crore ($320 billion). Earlier this month, the markets regulator set rules to define various investment scheme categories offered by fund houses within the debt and equity segments.  For equity, Sebi enlisted 10 categories which included large-cap-, mid-cap-, and small-cap-focused investment schemes.

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