Sebi diktat to impact large funds the most

Merging several schemes could increase the size under a particular category significantly

Large fund houses will be impacted the most by the Securities and Exchange Board of India’s (Sebi’s) new diktat to bring all equity schemes under 10 sub-categories. An analysis of existing large-cap, mid-cap, small-cap, multi-cap and tax planning categories shows fund houses such as ICICI Prudential MF, Sundaram MF, Birla Sun Life MF and Reliance MF have the larger number of schemes between them, totalling in excess of 150. Small and even mid-size fund houses, on the other hand, do not have much duplication, data provided by Value Research shows. Merging several schemes could increase the size under a particular