Advise investors not to take any knee-jerk action: Kotak MF's Nilesh Shah

Kotak Mahindra Mutual Fund MD Nilesh Shah says fund houses will build a consensus and then approach Sebi

The markets regulator, the Securities and Exchange Board of India (Sebi), has sent the mutual fund industry into a tizzy with its recent order on multi-cap schemes which changes the minimum allocation in such funds. Many fear multi-cap schemes — a large category with assets of Rs 1.47 trillion— will be forced to buy small- and mid-cap stocks at high valuations. Nilesh Shah, managing director, Kotak Mutual Fund, and chairman of industry body Association of Mutual Funds in India (Amfi), says investors should wait to see how things play out. In an interview with Samie Modak, Shah says fund houses