Synopsis
Axis Mutual fund has renamed its multicap scheme as the Axis Flexicap Fund. This comes after Sebi put a strict mandate for multi cap funds to allocate at least 25% each in small and mid cap stocks.
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Axis Mutual fund has renamed its multicap scheme as the Axis Flexicap Fund. This comes after the Securities and Exchange Board of India put a strict mandate for multi cap funds to allocate at least 25% each in small and mid cap stocks. Later, in its circular dated November 6, 2020, Sebi had introduced a new category of equity oriented schemes - flexi cap funds.