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Will ICICI Prudential Multicap and Kotak Standard Multicap move to the Flexicap category?

While Kotak AMC has already announced the move, ICICI is likely to follow suit, informs Dhirendra Kumar

I have invested in ICICI Prudential Multicap Fund and Kotak Standard Multicap Fund. Following the introduction of the 'Flexicap' category and given the fact that the exposure to mid- and small-caps would be increased in funds belonging to the multicap category, would these funds be moved to the new Flexicap category or do I need to switch to Flexicap all by myself?
- Gaurav

Both these are quite prominent funds. Kotak AMC has already announced that they would move their fund to Flexicap. In the case of ICICI's multicap fund, I expect that they would also make the switch to become a flexicap fund, as this too isn't a small-size fund.

This should ideally not affect investors in any way. As mandated by SEBI, multicap funds will have 25 per cent each in mid- and small-cap segments of the market. Many funds would have struggled to meet these new criteria and could have potentially resulted in losses. To avoid this, they created this new category so that the existing funds will have an option to make the switch to the new category without any overhead for investors to do anything by themselves.