SEBI in October, 2017 passed an order to re-categorize and rename the Mutual Funds for standardization and to clarify the investment mandate of the funds. This may have impacted the Mutual Funds in your portfolio. The table below shows the top equity funds (across Large/mid/small/multi cap) which have seen a change. The other top schemes have not been impacted.
|
Old name |
Old category | New name | New category |
Impact |
| Reliance Top 200 | Large cap | Reliance Large Cap | Large cap | Large cap companies are now defined as top 100 companies hence the funds can only invest in top 100 companies.
Risk and Returns could be lower.
|
| Axis Equity | Large cap | Axis Bluechip Fund | Large cap | |
| ICICI Prudential Focused Bluechip Equity | Large cap | ICICI Prudential Bluechip | Large cap | AMC has removed the old cap of 20 on the number of stocks from the top 200 companies. The investments will now be made in equity and equity related securities, with minimum 80% in the large cap (top 100). Risk and Returns could be lower. |
| L&T Midcap | Mid cap | L&T Midcap | Mid cap | The schemes will now strictly invest minimum 65% of the total assets in companies ranked between 101 and 250 in terms of market cap.
|
| DSP Blackrock Small and Mid Cap | Mid cap | DSP Blackrock Midcap | Mid cap | |
| SBI Small and Mid Cap | Small cap | SBI Small Cap Fund | Small cap | The scheme will now strictly invest minimum 65% of the total assets in companies ranked below 250 in terms of market cap.
Risk and Returns could be higher.
|
| DSP Blackrock Microcap | Small cap | DSP Blackrock Small Cap | Small cap | |
| HSBC Mid Cap Equity | Mid cap | HSBC Small Cap Equity | Small cap | |
| Invesco India Mid and Small Cap | Mid cap | Invesco India Multicap | Multi cap | Earlier it was required to invest in 65-95% in Mid cap 5-35% in small cap. These market caps have been removed now and the only requirement is to invest 65-100% in equity and rest in debt. |
| Mirae Asset India Opportunities | Large cap | Mirae Asset India Equity | Multi cap | The fund earlier used to primarily invest in large cap companies, now it can invest in equities across classes. Risk and returns could be higher. |
| Kotak Select Focus | Diversified | Kotak Standard Multicap | Multi cap | No change in objective. Only the name has changed. |
You can review your portfolio and stay invested if your investment objective has not changed. Please look at the overall portfolio asset allocation to ensure its in line with your risk profile and financial goals.
