Categories behind every mutual fund ranking
Ordered lists of schemes only make sense when the contestants run the same race. Regulation quietly makes that fairness possible behind every single table you see.
SEBI's categorization rules assign each scheme to a defined category, from large cap to credit risk, and restrict how far it can wander. Comparisons within a category therefore measure genuine skill rather than differing mandates. Cross-category tables, by contrast, mostly capture which asset class had a good run.
Always confirm which category a list covers before drawing conclusions. A mutual fund ranking rewards careful readers who respect the boundaries regulation drew for a reason.
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