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.
Fund houses are complaining that the new norms are limiting their ability to offer products within the suggested classification and are likely to impact risk management, these people said.
On 6 October, Sebi had asked fund houses to classify their schemes under five broad categories to cut through the clutter of similar plans and help in making better decisions.
