The Securities and Exchange Board of India vide its notification dated 6th November 2020 has introduced a new category called Flexi cap fund under equity schemes to give more flexibility to mutual funds.
Mutual Funds shall have an option to convert an existing scheme into a Flexi Cap Fund subject to compliance with the requirement for change in fundamental attributes of the scheme in terms of Regulation 18(15A) of SEBI (Mutual Funds) Regulations, 1996
For the Flexi Cap Fund a minimum investment in equity & equity related instruments shall be 65% of total assets and the asset management company shall ensure that a suitable benchmark is adopted for the Flexi Cap Fund.
