According to Sebi, the issue of scheme classification was taken up at the Mutual Fund Advisory Committee (MFAC).
The schemes have been broadly classified into five groups namely Equity; Debt; Hybrid; Solution Oriented; and Others.
"There is a need to bring in uniformity in the characteristics of similar type of schemes launched by different Mutual Funds," Sebi said in a circular.
"This would ensure that an investor of Mutual Funds is able to evaluate the different options available, before taking an informed decision to invest in a scheme."
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.