The largecap and midcap universe of mutual funds (MFs) is unlikely to expand soon, even as the market capitalisation (mcap) of stocks across various categories continues to grow, according to sources.
Earlier this year, Business Standard reported that the Securities and Exchange Board of India (Sebi) was reviewing the stock categorisation framework that ensures actively managed equity MFs are true to label.
The regulator had considered expanding the largecap and midcap universe by adding 25-30 more stocks. Currently, the top 100 stocks by mcap fall under the largecap category, the next 150 stocks are classified as midcaps, and the remainder as smallcaps.
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