The markets regulator communicated this to the money managers in a meeting earlier this month, the sources, who included a regulatory official, said. The regulator did not specify the quantum of flows it wants restricted, they said.
Sebi's communication shows heightened regulatory concerns on the surging inflows into Indian small- and mid-cap mutual funds and any potential ripple effects on the financial system if investors suddenly started to yank their money from them.
Assets managed by small-cap funds in the country vaulted 86.5% over a 10-month period to ₹2.48 trillion as of end-January and mid-cap funds jumped 58.5% to ₹2.9 trillion.
Their assets were not much lower than the ₹2.99 trillion managed by large cap funds.
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