Following SEBI's reclassification of the mutual fund market in India, there has been a change in the way rating agencies -- whose ratings form an important basis for the investors to make their investment decisions -- rate funds.
Prior to reclassification (the process completed on June 30), there were numerous schemes with similar investment objectives available in the market. In order to scrutinize the performance of the mutual fund, investors relied on the ratings provided by various rating agencies such as Morningstar, Value Research, CRISIL, ICRA, Brickworks etc.
