Sebi puts in place guiding principles for bringing uniformity in mutual fund benchmarks

To standardise and bring uniformity to the benchmarks of mutual fund schemes, Sebi  came out with a two-tiered structure for benchmarking certain categories of schemes.

The first tier benchmark will be reflective of the category of the scheme, and the second tier benchmark will be demonstrative of the investment style/strategy of the fund manager within the category, Sebi said in a circular.

All the benchmarks followed should necessarily be Total Return Indices, it added.