The benchmark indices considered for different categories are as follows:
GOI/SDL | Govt of India Securities or State Govt. Securities |
SO | Structured obligations like ABS/MBS/PTC. |
Bonds/Debentures | Bonds, Debentures and zero coupon bonds |
Money Market | Commercial Deposits, Commercial Papers, T-Bills, Bills rediscounted etc. |
Cash | Cash, Current Assets, Fixed Deposits, Mutual Fund Debt, Money Market, Net receivable/payable, Repo/Reverse Repo etc. |
Allocation of the fund in different maturity buckets i.e. < 1 Year, 1-3 years, 3-5 years, 5-10 years and >10 years
SEBI Equity MF Categories | Definition | Consolidated Equity MF Categorization |
Large Cap | min 80% in large caps | Large Cap |
Index Funds | Min 95% in securities of a particular index (which is being replicated/ tracked) |
ETFs (other than gold) | Min 95% in securities of a particular index (which is being replicated/ tracked) |
Large & Mid Cap | min 35% in large caps, min 35% in mid caps | Large & Mid Cap |
Mid Cap | min 65% in mid caps | Mid & Small Cap (Mid Cap/Small Cap) |
Small Cap | min 65% in small caps |
Multi Cap | min 65% in equity | Multi Cap (Multi Cap/ Value/ Focused/ Dividend Yield/ Contra) |
Dividend Yield | min 65% in Div Yield cos |
Value | min 65% in Value strategy cos |
Contra | min 65% in Contra strategy cos |
Focused Fund | max 30 stocks, min 65% equity |
Sectoral / Thematic | min 80% in that sector / theme | Sectoral / Thematic |
ELSS | min 80% in equity | ELSS |
SEBI Debt MF Categories | Definition | Consolidated Debt MF Categorization |
Overnight Fund | Securities having maturity of 1 day | Liquid (Overnight, Liquid) |
Liquid Fund | Securities with maturity of upto 91 days only |
Money Market Fund | Money Market instruments having maturity upto 1 year | Money, Ultra & Low Duration (3 -12M) (Ultra Short Duration/Low Duration/ Money Market/Floater) |
Floater Fund | Minimum 65% in floating rate instruments |
Ultra Short Duration Fund | Macaulay duration of the portfolio is between 3 months-6 months |
Low Duration Fund | Macaulay duration of the portfolio is between 6 months-12 months |
Short Duration Fund | Macaulay duration of the portfolio is between 1 year-3 years | Short Term (1-3 Yrs) (Corporate Bond/ Banking & PSU/Short Duration) |
Corporate Bond Fund | Minimum 80% in AA+ or above rated bonds |
Banking and PSU Fund | Minimum 80% in PSU, PFI bonds |
Medium Duration Fund | Macaulay duration of the portfolio is between 3 year - 4 years (1-4 years*) | Medium & Credit Risk (Medium Duration/Credit Risk) |
Credit Risk Fund | Minimum 65% in AA or lower rated bonds |
Dynamic Bond | Investment across duration | Dynamic Debt (Medium to Long Duration/ Dynamic Bond/Gilt) |
Gilt Fund | Minimum 80% in G-Secs |
Medium to Long Duration Fund | Macaulay duration of the portfolio is between 4 years - 7 years (1-7 years*) |
Long Duration Fund | Macaulay duration of the portfolio is greater than 7 years | Long Duration (7 Yrs+) |
Gilt Fund with 10 year constant duration | G-Secs having a constant maturity of 10 years |