Birla Sun Life Mutual Fund faces Sebi flak for renaming schemes

The fund house was asked to revert to the original names of the schemes by the regulator a few weeks ago: Sources

The Securities and Exchange Board of India (Sebi) has taken Birla Sun Life Mutual Fund to task for changing the names of three of its debt schemes.

In May, the fund house had changed the names and structure of three of its monthly income plans (MIPs) — Birla Sun Life MIP (BMIP) to Birla Sun Life Long Term Accrual Fund (BLAF), Birla Sun Life MIP II - Savings 5 Plan (BMI5) to Birla Sun Life Credit Opportunities Fund (BCOF), and Birla Sun 

Life Monthly Income (BMI) to Birla Sun Life Low Duration Fund (BLDF).

MIPs are hybrid products that invest