There are a set of schemes categorised as Dynamic Asset Allocation or Balanced Advantage Funds (BAFs). Market regulator SEBI’s fund management norm says funds in this category should ‘Invest in equity/debt that is managed dynamically.’ Since this is ‘dynamic,’ by definition, there is flexibility given to AMCs (asset management companies) in managing such funds. Some AMCs did run BAF funds even earlier, prior to the coming of SEBI’s fund management norms, which were implemented in April-June 2018. Those older funds have now been shifted to the BAF category.
1.3 crore mutual fund accounts on hold due to incomplete KYC; how MF investors can check KYC status online
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