SEBI, in consultation with Mutual Fund Advisory Committee, has introduced a new category named “Flexi Cap Fund” under equity schemes with a view to give more flexibility to the mutual fund industry. The flexi cap category is characterised with minimum investment of 65% of the total net assets in equity and equity related instruments. The category shall consist of open-ended dynamic equity schemes investing across large cap, mid cap, small cap stocks. For the ease of identification by the investors, the relevant scheme name shall be same as the scheme category. The AMC shall ensure that a suitable benchmark is adopted for the Flexi Cap Fund