After the Sebi circular on classification and rationalisation of mutual fund schemes, fund houses in the country have been merging schemes or re-categorising them in order to comply with the new norms. We take a look at five such equity-oriented schemes, which have undergone a change.
HDFC PRUDENCE FUND
AUM: ₹36,594 crore
1-year return: 6.89 per cent
Fund Manager: Prashant Jain
What Changes: The name of the fund will change to HDFC Balanced Advantage Fund. While the fund had an earlier allocation of 65-75% in equities, it will now have a dynamic allocation to equity and debt ranging between 0-100%.