Shriram Mutual Fund has revised classification of Shriram Equity and Debt Opportunities Fund according to new guidelines issued by the Securities and Exchange Board of India, the fund house said in a newspaper notice.

Come Feb 23, the scheme will be categorised as an aggressive hybrid fund, as against its current category of an open-ended equity-oriented fund.

To bring uniformity, standardise scheme categories and enable ease of investment to investors, the regulator, on Oct 6 had mandated fund houses to categorise all their existing and future schemes into five broad categories and 36 sub-categories.

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Subsequently, the scheme will invest 65-80 percent corpus in equity, equity related instruments and derivatives and 20-35 percent in debt instruments, including fixed or floating rate debt instruments and money market instruments.

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At present, the scheme allocates 65-85 percent in equity, equity related instruments and derivatives and 15-35 percent in debt instruments, including fixed or floating rate debt instruments and money market instruments.

Unit holders, who do not agree with the changes, can avail the exit option between January 24 and February 22.

All other features of the scheme remain unchanged.

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