Sebi's new rules on categorisation: 20% MF scheme names to be changed

Industry says this will affect brand recall of popular schemes

The names of nearly 300 to 400 mutual fund (MF) schemes will change over the next few weeks in order to comply with the Securities and Exchange Board of India's (Sebi's) new rules on 'categorisation and rationalisation'. One in five schemes needs a change of name to meet Sebi's one-scheme-per-category rule, according to industry players.

The process is under way, with DSP BlackRock MF, Motilal Oswal Asset Management Company and HSBC MF announcing changed names for nearly half-a-dozen schemes. Sources said many fund houses were waiting for regulatory approvals and might make similar announcements in the coming weeks.

The capital market regulator