SEBI’s scheme recategorization 2.0: Fund houses rush to rename their schemes

Several fund houses, including top AMCs like HDFC Mutual Fund and ICICI Prudential Mutual Fund, have renamed their schemes after SEBI reportedly directed them to simplify scheme labels for investors.

At the end of March, SEBI instructed fund houses to change the names of their equity schemes to make them easier to understand, especially for first-time investors. The goal is to make mutual fund investments more understandable and uniform for common people, said sources.

Earlier, at an industry event, Manoj Kumar, Executive Director, SEBI said that the market regulator is working on scheme categorization as the current labels are not easy to understand.  Kumar said they are working on simplifying these names and categories.

As a result, fund houses have replaced names like Bluechip Fund with Large Cap Fund, or Mid Cap Opportunities Fund with Mid Cap Fund.

HDFC Mutual Fund has changed the name of its popular HDFC Mid Cap Opportunities Fund to HDFC Mid Cap Fund.

Similarly, ICICI Prudential Mutual Fund has revised the name of ICICI Prudential Value Discovery Fund to ICICI Prudential Value Fund.

Here is the list of revised names of schemes of top 20 fund houses:

All these name will come into effect by June 30, 2025.

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