On 27 February, Sebi sent a letter to all AMCs, expressing concern at the ‘froth building up in the small- and mid-cap segments of the market, and the continuing flows in the small- and mid-cap schemes of mutual funds’. The market regulator asked for a policy to be put in place to protect investors. The letter laid down two requirements for this policy. First, ‘appropriate and proactive measures are to be taken by AMCs and fund managers to protect investors, including, but not limited to, modera ..
