(Securities Laws) (Country: India)
SEBI, PR No.: 61/2017, Oct 06, 2017: In order to enable an investor of mutual funds to take an informed decision while investing in a scheme, it is felt necessary to clearly distinguish different schemes launched by a Mutual Fund in terms of asset allocation, investment strategy etc. A need has also been felt to bring uniformity in the characteristics of similar type of schemes launched by different Mutual Funds so that an investor finds it easier to compare similar funds.
In order to bring in uniformity and to standardize the scheme categories as well as characteristics of each category, SEBI, has issued a circular on October 6, 2017 laying down the categories of schemes, its characteristics and uniform description for each category.
The full text of the circular (no. SEBI/HO/IMD/DF3/CIR/P/2017/114) is available on the website of www.sebi.gov.in - click here