No major change in number of MF schemes post Sebi rationalisation

Drop in the number of schemes is less than 3%, despite merger of 38 schemes between Sept 2017 and May this year

The Securities and Exchange Board of India's (Sebi's) move to categorise and rationalise mutual fund schemes has resulted in a reduction of less than three per cent in the number of schemes in the MF universe.

Between September 2017 and May this year, 38 schemes have been merged, the majority of which are in the debt domain, data collated from Value Research shows. The fund count in the equity category has declined by one and that in the debt category has reduced by 26. Open-ended schemes today number 977, about three per cent lower than the figure before Sebi issued its