SEBI (Securities and Exchange Board of India) — Mutual Fund Term Explained

The regulatory authority that governs all mutual funds and securities markets in India. Sets rules for AMC operations and investor protection.

SEBI is the primary market regulator in India. It regulates mutual fund operations including fund categorization, expense ratio caps, investment restrictions, NAV calculation norms and investor protection measures.

Key SEBI circulars standardised mutual fund categories (2017), capped expense ratios, mandated risk-o-meters.

Related terms

• AMFI (Association of Mutual Funds in India) — The self-regulatory body of Indian mutual funds. Maintains NAV database, certifies distributors and publishes monthly fund flow data.
• AMC (Asset Management Company) — The company that manages mutual fund schemes — like HDFC AMC, SBI Funds, Nippon India MF. SEBI-regulated.
• NFO (New Fund Offer) — The initial offering period when a new mutual fund launches at ₹10 face value. No NAV history to evaluate — be cautious.
• KYC (Know Your Customer) — Mandatory identity and address verification before investing in mutual funds. One-time process — valid across all mutual funds once done.

Browse the full mutual fund glossary, or see this concept in action in the fund screener.