AUM size classification of mutual funds in India

Tue, 12 May 2026 00:00:00 +0000

AUM size classification in Indian mutual funds refers to the categorisation of equity mutual fund schemes based on the market capitalisation range of the stocks they are mandated to invest in, as defined by SEBI’s October 2017 scheme categorisation circular. The terms “large-cap,” “mid-cap,” and “small-cap” refer to the capitalisation of the portfolio’s underlying securities, not the fund’s own assets under management.

The AUM-based classification of fund schemes (by their own AUM size) is a separate concept, used for TER slab determination and industry concentration analysis.

Macaulay duration in debt mutual funds

Tue, 12 May 2026 00:00:00 +0000

Macaulay duration is the weighted average time until a bond’s cash flows (coupon payments and principal repayment) are received, where each cash flow is weighted by its present value as a proportion of the bond’s total present value. The concept was introduced by Frederick Macaulay in 1938. Measured in years, it is the foundational duration measure in fixed-income analysis and the metric used by SEBI to define the investment mandate of Indian debt mutual fund categories.

SEBI Category on WebNotes

AUM size classification of mutual funds in India

Macaulay duration in debt mutual funds