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Markets regulator, the <keyword id="6355630" type="UNKNOWN" weightage="20" keywordseo="securities-and-exchange-board-of-india">Securities and Exchange Board of India</keyword> (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) on Sunday clarified that mutual funds have many options to meet requirements of the circular on asset allocation of multi-cap funds, based on the preference of their unit-holders. In a clarification issued on Sunday, the SEBI said apart from rebalancing their portfolio in the multi-cap schemes, mutual funds could facilitate switch to other schemes by unit-holders, merge their multi-cap scheme with their large-cap scheme or convert their multi-cap scheme to another scheme category, for instance, large-cum-mid-cap scheme. <keyword id="119509" type="ORGANIZATION" weightage="20" keywordseo="Kotak-Mutual-Fund">Kotak Mutual Fund</keyword> has welcomed the SEBI clarification. Nilesh Shah, Managing Director, Kotak AMC, said in a tweet: "Immense gratitude to SEBI for issuing clarification on a Sunday evening. We will ensure compliance with SEBI Regulations in letter as well as spirit &amp; optimize risk adjusted return for our Investors. Don't take Investment decisions in haste." The SEBI said it is conscious of market stability and therefore, has given time to mutual funds till January 31, 2021 to achieve compliance with the circular, through their preferred route, of which rebalancing of the portfolio is only one such route. "It is reiterated that to achieve the desired objective of True to Label and Appropriate Benchmarking, the SEBI will examine proposals of the industry, if any, received in this regard," it said. The SEBI has issued a circular dated September 11, on multi-cap schemes of mutual funds, requiring them to invest a minimum of 25 per cent each in large, mid and small-cap stocks, with the balance 25 per cent giving flexibility to the fund manager. The regulator said the circular was issued as a need was felt to review the scheme characteristics of multi-cap schemes and take necessary steps to clearly distinguish these from other category of schemes. Multi-cap schemes had flexibility in terms of allocation to large, mid and small-cap stocks. "However, it has recently been observed that some multi-cap schemes have skewed portfolios, with over 80 per cent of investment in large-cap stocks akin to large-cap schemes, and some multi-cap schemes have near zero or insignificant asset allocation to small-cap companies," it said. As per the SEBI circular, it was anticipated that there could be a large inflow of funds into small-cap stocks to meet the requirement of minimum 25 per cent asset allocation. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-ril-irctc-bhel-tata-motors-adani-green-vodafone-idea-godrej-properties-sunteck-realty-and-more/articleshow/78097615.cms">Top stocks to watch— Future Retail, RIL, IRCTC, BHEL, Tata Motors, Adani Green, Vodafone Idea, Godrej Properties, Sunteck Realty and more</a> <a href="https://www.businessinsider.in/india/news/delhi-police-arrests-umar-khalid-connection-with-northeast-delhi-riots/articleshow/78097740.cms">Delhi Police arrests Umar Khalid in connection with Northeast Delhi riots</a> <a href="https://www.businessinsider.in/tech/news/tiktok-owner-bytedance-rejected-microsofts-offer-for-the-apps-us-operations/articleshow/78097018.cms">TikTok owner ByteDance rejected Microsoft's bid for the app's US operations, Oracle reportedly chosen as US 'technology partner'</a>

SEBI clarifies that mutual funds will have options apart from rebalancing portfolio

<ul><li>In October 2017, the Securities and Exchange Board of India enforced rules to make mutual-fund categories more uniform and standardised. For example, <keyword id="136469" type="PERSON" weightage="20" keywordseo="large-cap">large-cap</keyword> stock schemes had to comprise at least 80% large-cap <keyword id="6354298" type="DEFINITION" weightage="20" keywordseo="Stocks">stocks</keyword>. </li><li>The rules were meant to declutter the mutual fund industry and improve investor choice, but instead they diverted inflows from <keyword id="419945" type="PERSON" weightage="20" keywordseo="small-cap">small-cap</keyword> companies by reducing the exposure of large-cap schemes to smaller stocks. </li><li>According to data from Prabhudas Lilladher, small-cap stock schemes recorded a net outflow of ₹220 million between January and June 2018, compared to a net inflow of ₹56.5 billion a year ago. </li></ul> When the Securities and Exchange Board of India (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) order the reclassification and rationalisation of open-ended mutual fund schemes <a href="https://www.sebi.gov.in/legal/circulars/oct-2017/categorization-and-rationalization-of-mutual-fund-schemes_36199.html">in October 2017</a>, its intentions were clear. It wanted to declutter the mutual fund industry by implementing procedures for standardisation and allowing investors greater ease in choosing and comparing schemes. Among the SEBI’s many rulings, one stood out. It made the categorisation of schemes into large-cap, <keyword id="71797" type="PERSON" weightage="20" keywordseo="Mid-cap">mid-cap</keyword> and small-cap stock schemes mandatory. This created a specific category for each scheme, which limited the exposure that each scheme had to other stock types. For example, large-cap stock schemes, which involve the shares of the top 100 companies by market capitalisation, had to be comprised of at least 80% large-cap stocks. Midcap schemes, which comprise the next 150 companies by market cap, had to be overwhelmingly weighted with stocks of mid-cap companies and so on. Fast forward to mid-2018, and the rules have had an unintended effect. They have led to a significant reduction in inflows to small-cap mutual fund schemes, comprising the shares of all other companies outside the top 250. Hence, the rules have shifted the power balance in favour of large companies. According to data from Prabhudas Lilladher, a brokerage house, small-cap stock schemes recorded a net outflow of ₹220 million between January and June 2018, compared to a net inflow of ₹56.5 billion in the same period of 2017. Meanwhile, large-cap and mid-cap schemes recorded a net inflow of ₹219 billion and ₹145 billion in the first six months of 2018. Why the focus on large and mid-caps? It all stems from an investor aversion to risk. 2018 represents a markedly different year from 2017, which was characterised by a booming stock market, an influx of cheap money and high investor optimism. However, this year, domestic <keyword id="31671" type="CITY" weightage="20" keywordseo="markets">markets</keyword> have suffered amid concerns of a trade war between the US and China as well as rising oil prices, a falling rupee and widening fiscal deficit. Hence, investors have sought to play it safe by redirecting their investments into larger companies. Small-cap stocks are considered to be more volatile and risky in these kinds of market conditions. The general rule of thumb is that larger companies are safer and better-capitalised to manage risk than smaller ones. Small-cap stocks might come with higher returns but that’s offset by higher risk. And yes, India’s markets have <a href="https://www.businessinsider.in/heres-what-led-to-the-indian-stock-markets-record-highs/articleshow/65161389.cms">had a bull run as of late</a>, but this has not extended to small-cap stocks. The Bombay Stock Exchange’s Small-Cap Index is down nearly 12% since the start of the year. If global market conditions pick up, and mutual fund houses start promoting small-cap schemes, there could be a resurgence in inflows to small-cap companies. The SEBI should keep an eye on the situation, and if necessary, reduce weightage and product restrictions for mutual fund schemes in the interest of diversification.

India’s securities regulator has hurt smaller companies with its recently-implemented mutual fund rules

<ul><li>As Indian households embrace financial diversification and mutual funds become more popular, the cost per investor for fund managers is declining. </li><li>As a result, the <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> has decided to restrict the total expense ratio (<keyword id="2782242" type="PERSON" weightage="20" keywordseo="TER">TER</keyword>) for <keyword id="6354820" type="DEFINITION" weightage="20" keywordseo="mutual-fund">mutual fund</keyword> schemes as a percentage of assets. </li><li>The SEBI has also prohibited mutual fund promoters from paying upfront commissions to brokers, saying that they should follow a trail-commission approach instead. </li></ul>The board members of the Securities and Exchange Board of India (SEBI), the country’s securities regulator, know a thing or two about economies of scale. As Indian households embrace financial diversification and mutual funds become more popular, the cost per investor for fund managers should go down. Keeping this in mind, the SEBI has decided to restrict the total expense ratio (TER) for mutual fund schemes as a percentage of assets. For equity-oriented mutual fund schemes, the most prominent kind of scheme, the TER will be capped at 1.25% for closed-ended schemes and a maximum of 2.25% for open-ended schemes less than ₹5 billion - with a gradual reduction to 1.05% for schemes above ₹500 billion. The TER for index-tracking funds, a passive investment option, will be limited to 1% while the cap for fund of funds will be 2.25%. The SEBI has also prohibited mutual fund promoters from paying upfront commissions to brokers. This means that they can’t make direct payments to brokers from their books. Instead, they will have to pay distributors on a trail-commission basis, which is contingent on how long investors stick with a specific mutual fund scheme. The changes are expected to impact the overall revenues of the mutual fund management industry by ₹15 billion. However, demand for mutual fund schemes is likely to increase significantly. The rules come as the industry reached a record <a href="https://www.amfiindia.com/indian-mutual">₹25.2 trillion </a>of assets under management at the end of August 2018. This marks a four-fold increase from August 2008. Besides making mutual fund investments cheaper, the SEBI also reduced the period for listing shares following an IPO from six days to three and decided to open up the commodity derivatives market to foreign portfolio investors.

India, SEBI just made it a lot cheaper for you to invest in mutual funds

New Delhi, Jan 3 () Markets regulator Sebi on Friday came out with a new framework for core settlement guarantee fund and liability of non-defaulting members of clearing corporations.
 The move has been taken following deliberations made by Sebi's risk management review committee and various stakeholders.
 A core Settlement Guarantee Fund (SGF) is a corpus used for settlement of trades during defaults and all intermediaries -- stock exchanges, clearing corporations and brokers -- contribute towards it.
 In a circular, Sebi said that requisite contributions to Core SGF by various contributors for any month will be made by the contributors before start of the month.
 In the event of usage of Core SGF during a month, Sebi said the contributors shall, as per usage of their individual contribution, immediately replenish the Core SGF to minimum required corpus.
 However, such contribution towards replenishment of Core SGF by the members would be restricted to only once during a period of 30 days regardless of the number of defaults during the period, it added.
 The period of 30 calendar days shall commence from the date of notice of default by clearing corporation to market participant, it added.
 If there is failure on part of some contributor to replenish its contribution, same would be immediately met, on a temporary basis during the month in this order -- clearing corporation and stock exchange.
 With regard to contribution by a non-defaulting member in the 'default waterfall' of clearing corporations, Sebi said such corporations need to call for the capped additional contribution only once a month regardless of the number of defaults during the period.
 Default waterfall is a system in which a clearing corporation applies different types of its financial resources to meet a default loss, such as margins brought in by defaulting participant, clearing funds and its own assets.
 "The maximum capped additional contribution by non-defaulting members shall be lower of 2 times of their primary contribution to Core SGF or 10 per cent of the Core SGF of the segment on the date of default in case of equity or debt segments," Sebi said.
 With regard to derivatives segments, Sebi said maximum capped additional contribution by non-defaulting members would be lower of two-times of their primary contribution to Core SGF or 20 per cent of the Core SGF of the segment on the date of default.
 Besides, the regulator has directed clearing corporations to put in place the adequate systems and issue the necessary guidelines to implement the same. SP ABM
ABM

Sebi issues new framework for core settlement guarantee fund, non-defaulting members

Capital market regulator <keyword id="6355630" type="ORGANIZATION" weightage="20" keywordseo="Securities-and-Exchange-Board-of-India">Securities and Exchange Board of India</keyword> (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>) has eased regulations for greater investments in <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword>. In a bid to deepen capital markets, SEBI also allowed Foreign Portfolio Investors (FPIs) to invest in unlisted NCDs, debt instruments. 
 
SEBI also reduced the minimum angel fund investment for venture capital firms to Rs 25 lakh from the current Rs 50 lakh to give fillip to the early-stage startup ecosystem. 
 
“The definition of startups for angel fund investment to be similar to DIPP policy. Angel funds to be allowed to invest in startups incorporated within 5 years. Angel funds can invest in overseas venture cap undertakings up to 25%,” stated SEBI. 
 
According to SEBI guidelines, angel funds can invest in startups that have been incorporated during the preceding three years from the date of such investments. This has been changed to five now. 
 The SEBI also increased upper limit for <keyword id="6365770" type="UNKNOWN" weightage="20" keywordseo="angel-investors">angel investors</keyword> from 49 to 200 and the lock-in requirements of investments made by angel funds was reduced from three to one year. 
 
The market regulator also barred listed firms, their top officials from signing compensation pacts with PE funds without public shareholders' approval.

SEBI eases norms for investment in startups, increases upper limit for angel investors

<ul><li><keyword id="111876" type="General" weightage="20" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> market cap stock overtakes that of SBI after the reports.</li><li>Indian financial services company <keyword id="85462" type="General" weightage="20" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword> got <keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword> nod to start a mutual fund business.</li><li>The news triggered the shares of Bajaj Finserv and its subsidiary Bajaj Finance to become the top two gainers on the Nifty 50 index.</li><li>The market capitalisation of Bajaj Finance reached ₹4.22 lakh crore while that of Bajaj Finserv stood at ₹2.61 lakh crore.</li></ul>Shares of financial services companies Bajaj Finserv and Bajaj Finance surged as the former received the market regulator’s nod to start a mutual fund business. The shares of Bajaj Finserv reached its one year high of ₹16,584. The company had filed the application on September 28, 2020 to market regulator Securities and Exchange Board of India (SEBI). Bajaj Finance is the subsidiary of Bajaj Finserv. “The Company would be setting up an asset management company and the trustee company, directly or indirectly i.e., itself or through its subsidiary in accordance with applicable SEBI Regulations and other applicable laws,” said Bajaj Finserv in an exchange filing. Another financial services company Zerodha is also waiting for the regulator’s nod to launch a mutual fund business. Frontline Capital Services, Wizemarkets Analytics, Unifi Capital, Alchemy Capital Management and Helios Capital Management are some other companies in line waiting for SEBI’s approval. The ₹35 lakh crore <keyword id="35476" type="General" weightage="20" keywordseo="mutual-fund-industry" source="Orion">mutual fund industry</keyword> has 44 mutual fund houses with HDFC Mutual Fund and SBI Mutual Fund being the top two asset management companies. <div type="image" title="Bajaj finance 2" height="900" width="1200" msid="85589505" hostid="261"></div> Shares of Bajaj Finserv’s subsidiary Bajaj Finance gained 4% on the news to reach a 52 week high of ₹7,049. Moreover, the market capitalisation of the company went up to ₹4.22 lakh crore crossing India’s biggest lender State Bank of India’s market cap of ₹3.71 lakh crore. <div type="image" title="Bajaj finance" height="900" width="1200" msid="85589515" hostid="261"></div> Bajaj Finance and Bajaj Finserv were among the top two gainers on the Nifty 50 index today. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-loses-over-4-million-subscribers-airtel-and-jio-add-over-9-million-in-june/articleshow/85589113.cms">Vodafone Idea loses over 4 million subscribers, Airtel and Jio add over 9 million in June</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-mining-in-iran-easing-but-china-maintain-strict-stance/articleshow/85588848.cms">Iran is bringing back cryptocurrency mining, but China shows no signs of changing its mind</a>

Bajaj Finance gets bigger than SBI after SEBI allows parent Bajaj Finserv to sell mutual funds

New Delhi, Dec 10 () Debt-oriented mutual fund schemes that have more than 10 per cent exposure to their sponsors' group companies before October 1 have been allowed to continue with such investments till respective maturity dates.
 Markets regulator Sebi's decision to provide such an exemption comes against the backdrop of debt-oriented mutual funds having a cap of 10 per cent in terms of their exposure to group firms of sponsors as well as asset management companies.
 A circular about the 10 per cent limit was issued by Sebi on October 1, 2019.
 In the latest circular, Sebi said "the investments of mutual fund schemes in debt and money market instruments of group companies of both the sponsor and the asset management company of the mutual fund in excess of the limits specified therein, made on or before October 1, 2019 may be grandfathered till maturity date of such instruments".
 The maturity date of such instruments shall be as applicable on October 1, 2019, the regulator added.
 Sebi has asked all asset management companies to publish on their respective websites a list of their group companies and those of their sponsor.
 Further, the regulator has directed mutual fund industry body Amfi to publish on its website a list of all group companies along with names and identifier of the respective group that are considered for calculation of group exposure by mutual fund schemes and also the sector to which each company belongs.
 In regard to group level exposure limit, the investments by debt mutual fund schemes in debt and money market instruments of group companies of both the sponsor and the mutual fund house should not exceed 10 per cent of the net assets of the scheme.
 Such investment limit may be extended to 15 per cent of the net assets of the scheme with the prior approval of the board of trustees.
 The regulator also said disclosure about the existing investments of mutual fund schemes in unlisted debt instruments, including non-convertible debentures (NCDs), need to be made on first working day of each calendar quarter starting from January 1, 2020.
 Besides, the disclosure is applicable for all fresh investments made by fund houses in unlisted NCDs.
 In October, Sebi allowed the maximum investment in unlisted NCDs will be 15 per cent of the debt portfolio of the scheme from March 31, 2020, and the investment limit will be 10 per cent from June 2020. SP RAM ABM
ABM

Sebi provides relaxation on group exposure limit for MFs

(Eds: Incorporating related stories) Mumbai, Feb 17 () Continuing its efforts to further strengthen and deepen the capital market, Sebi on Monday approved stricter eligibility norms for investment advisers, capped their fees as well as green signalled regulatory sandbox for live testing of new products. Sebi board, which met for the first time after presentation of the 2020-21 Union Budget, also cleared amendments to fast track issuance of units to existing investors by REITs and InvITs. Addressing media after the meeting here, Sebi Chairman Ajay Tyagi, whose current tenure is ending later this month, said the regulator is actively looking at re-categorising mid-cap and small cap mutual fund schemes. Under the revised framework for investments, those dealing in distribution of securities would be barred from using titles like independent "financial advisers" or "wealth advisers", unless they are registered as investment advisers also. An individual adviser cannot provide distribution services, while firms would need to segregate advisory and distribution activities at client level to avoid conflict of interest, as per the watchdog. The new rules, framed after considering four consultation papers and public comments, also seek to bring in more clarity in payment of fees and introduction of upper limit on fees charged to investors. As part of measures to facilitate latest fintech innovations in the market, Sebi would permit live testing of new products, services and business models on select customers. Besides, a cross domain approach for the regulatory sandbox would be allowed, wherein a regulated entity can test solutions even for those activities for which it is not registered. Among others, changes in investment manager eligibility norms for Infrastructure Investment Trusts (InvITs) have been approved, a move that would help a mega offering worth an estimated Rs 20,000 crore by the National Highways Authority of India (NHAI). Asserting that whatever action is required would be taken, Tyagi said the watchdog would soon come out with a circular to prevent incidents like Karvy Broking Services Ltd (KSBL), which had allegedly misused clients's securities. Last November, the watchdog barred KSBL from taking new brokerage clients after it was found that the brokerage firm had allegedly misused clients' securities. According to him, only half of the top 500 companies complied with mandate to segregate the post of Chairman and Managing Director and practicalities resulted in Sebi extending the deadline by another two years. In January, Sebi deferred the requirement for splitting post of Chairman and Managing Director of the companies by two years to April 2022. Reflecting on his current tenure, Tyagi described it as "quite a good experience" and mentioned transparent working ways and consultative approach without "regulatory capture" as among the achievements. AA SP RAM RVK

Stricter norms for investment advisers, regulatory sandbox get Sebi board's green signal

New Delhi, Jan 30 () Market regulator Sebi on Thursday imposed a total penalty of Rs 50 lakh on six entities for indulging in fraudulent trading in the shares of Polar Pharma India.
 The regulator levied a fine of Rs 20 lakh on Peeyush Agarwal, Rs 10 lakh on DPK Stock and Securities and Rs 5 lakh each on Shivam Investments, Caps Finstock Services, AJC Securities &amp; Finance and Supreme Lease Finvest.
 The entities indulged in creation of artificial volume through significant quantity of synchronised trading and were also involved in price manipulation by contributing significant positive last trading price (LTP) variation, thereby taking advantage of price movement and made wrongful gains of Rs 1.73 crore, Sebi found.
 By indulging in such activities, the entities violated the provisions of Prohibition of Fraudulent and Unfair Trade Practices (PFTUP) norms, the regulator noted.
 In separate orders, the regulator imposed fines of Rs 5 lakh each on Voltaire Leasing and Finance Ltd and Cheminare Trade Comm for executing non-genuine trades in stock options segment on BSE that led to creation of artificial volume and hence violated PFTUP norms.
 Separately, Sebi also slapped a penalty of Rs 5 lakh on SW Capital for misutilisation of client funds and securities. 
 The regulator, in separate orders, levied a fine of Rs 3 lakh each on DBFS Securities, VRise Securities and Fort Share Broking for not complying with Securities Contract Regulation Act (SCRA).
 Sebi found that DBFS Securities used "funds of credit balance clients, even if for short periods, till debit balance clients made respective pay-ins, so as to avoid additional bank charges on the OD (overdraft facility)".
 VRise Securities misused clients' funds on several occasions for debit balance clients and once for its own purpose and thereby failed in performing its duties as a registered stock broker, Sebi noted.
 It further said that Fort Share Broking failed to settle the accounts within the stipulated timeline. AST SP 
RVK

Sebi slaps Rs 50 lakh fine on 6 entities for fraudulent trade in Polar Pharma shares

New Delhi, Jan 12 () Emerging investment instruments REITs and InvITs seem to be finally catching investors' fancy, with mutual funds investing a whopping Rs 12,000 crore in such units in 2019.
 Fund managers infused Rs 670 crore in real estate investment trusts (REITs) and Rs 11,347 crore in infrastructure investment trusts (InvITs) last year, according to the Securities and Exchange Board of India (Sebi).
 Mutual funds have increased their exposure in these investment avenues over the past one year. Investment by fund houses in REITs jumped to Rs 72.5 crore in December 2019 from a mere Rs 7 crore in January 2019, while the same in InvITs rose to Rs 948 crore from Rs 611 crore during the period under review.
 Market experts believe that REITs could be a potential investment option giving good returns as interest of investors in the residential segment is declining due to inability to monetise assets and limited appreciation in property prices. 
 They further said that investment in InvITs may pick up in the coming months following Reserve Bank of India's decision to allow banks to lend to InvITs.
 Sebi Chairman Ajay Tyagi, who had met scores of foreign investors in the US in October, said he saw keen interest from them in emerging areas such as REITs and InvITs. 
 During the meeting, the participants were enthusiastic about emerging areas such as REITs and InvITs, which have more than USD 10 billion asset size as on date.
 Sebi first issued the guidelines for REITs and InvITs in 2014, and revised them in 2016 and 2017.
 However, mutual funds, which are investment vehicles made up of a pool of funds collected from a large number of investors and invest in stocks, bonds, money market instruments and similar assets, were allowed to invest in REITs and InvITs in February 2017.
 The move was part of the markets watchdog Sebi's effort to get more number of investors into such instruments.
 Under the norms, a mutual fund has been permitted to invest only up to 5 per cent of its net asset value in units of a single issuer of alternative securities. The maximum allowed investment in alternative instruments by a single fund has been capped at 10 per cent.
 Ever since Sebi introduced InvITs, markets witnessed the listing of two public InvITs -- IRB InvIT Fund and India Grid Trust. Three InvITs -- IndInfravit Trust, India Infrastructure Trust, Oriental InfraTrust --- were privately placed. On the other hand, Embassy Office Parks REIT is the only listed real estate investment trust. SP 
ABM

REITs, InvITs pick up steam; mutual funds pour in Rs 12,000 cr in 2019

New Delhi, Strong, incessant net flows and favourable market conditions propped up the assets base for the small-cap mutual fund category to cross Rs 2 lakh crore mark in November-end, a sharp surge of 69 per cent from a year earlier. On a month-on-month basis, the Assets Under Management (AUM) of the category grew 10 per cent to Rs 1.99 lakh crore, data with the <keyword id="826589" type="General" weightage="80" keywordseo="association-of-mutual-funds" source="Orion">Association of Mutual Funds</keyword> in India (AMFI) showed. Since the fourth quarter of 2019-20, the AUM for the category has seen a phenomenal rise, due to favourable market movement, along with record net inflows. Small-cap funds attracted Rs 37,178 in this year (till November). This includes Rs 3,699 crore last month and a record fund infusion of Rs 4,495 crore in October. On the other hand, the large-cap category saw a pull out of Rs 2,688 crore in the first 11 months of this year. "A few fund houses have limited the inflows in their small-cap funds over the last quarter given the sharp rise in flows and concerns on valuations," <keyword id="112974" type="General" weightage="80" keywordseo="morningstar-india" source="Orion">Morningstar India</keyword> had mentioned in its September quarterly report. Going by the AMFI data, the asset base of the small-cap mutual fund hit its peak of Rs 2.2 lakh crore at the end of November. Additionally, investor accounts in the category, too, climbed a staggering 62 lakh folios to 1.6 crore in November from 97.52 lakh a year-earlier. This shows that investors have become more inclined toward small-cap funds. Under Sebi's rule, in small-cap mutual funds, fund managers are required to invest at least 65 per cent of their portfolios in small-cap stocks. <keyword id="2252616" type="General" weightage="80" keywordseo="g-pradeepkumar" source="Orion">G Pradeepkumar</keyword>, CEO, <keyword id="6536298" type="General" weightage="80" keywordseo="union-asset-management-company" source="Orion">Union Asset Management Company</keyword>, suggested that investors stagger their investments in small- and mid-cap funds in view of the possibility of short-term volatility. Overall, the AUM of the 42-player mutual fund industry reached Rs 49.04 lakh crore in November-end from Rs 40.37 lakh crore in November 2022, suggesting a gain of 22 per cent.

You Searched For "sebi multi cap funds" and got 11 results

SEBI clarifies that mutual funds will have options apart from rebalancing portfolio

IANS

India’s securities regulator has hurt smaller companies with its recently-implemented mutual fund rules

Dilsher Dhillon

India, SEBI just made it a lot cheaper for you to invest in mutual funds

Dilsher Dhillon

Sebi issues new framework for core settlement guarantee fund, non-defaulting members

PTI

SEBI eases norms for investment in startups, increases upper limit for angel investors

BI India Bureau

Bajaj Finance gets bigger than SBI after SEBI allows parent Bajaj Finserv to sell mutual funds

Bhakti Makwana

Sebi provides relaxation on group exposure limit for MFs

PTI

Stricter norms for investment advisers, regulatory sandbox get Sebi board's green signal

PTI

Sebi slaps Rs 50 lakh fine on 6 entities for fraudulent trade in Polar Pharma shares

PTI

REITs, InvITs pick up steam; mutual funds pour in Rs 12,000 cr in 2019

PTI

Consistent inflows push small-cap funds AUM past Rs 2 lakh cr mark in Nov

PTI

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