Widely read:
A regulatory circular in late 2020 stripped multi-cap funds to their bare bones. Almost overnight, these funds, which had been creating wealth for multiple decades, lost their very definition and freedom. From enjoying the flexibility of investing across companies of all sizes, they were now mandated to have at least 25 per cent of their assets in large-, mid- and small-cap companies. Consequently, 27 of the 35 funds chose to migrate to a newer category, called 'flexi-cap funds', to avoid drastic portfolio changes, leaving only eight funds retaining the multi-cap status.
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