1. SEBI vide circular dated October 06, 2017, has issued guidelines regarding categorization and rationalization of Mutual Fund Schemes.
2. In order to give more flexibility to the mutual funds and taking into account the recommendations of Mutual Fund Advisory Committee (MFAC), a new category named “Flexi Cap Fund” under Equity Schemes will be available with the following scheme characteristics.
| Category of Scheme | Scheme Characteristics | Type of scheme (uniform description of scheme) |
| Flexi Cap Fund | Minimum investment in equity & equity related instruments – 65% of total assets | An open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks |
3. The AMC shall ensure that a suitable benchmark is adopted for the Flexi Cap Fund.
4. For easy identification by investors and in order to bring uniformity in names of schemes for a particular category across Mutual Funds, the scheme name shall be the same as the scheme category.
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