Friday, August 28, 2026 3:21 pm
Hello investors,
The Securities and Exchange Board of India (SEBI) has issued categorisation and rationalisation guidelines for mutual fund schemes (circular dated 26 February 2026, now part of the SEBI Master Circular dated 20 March 2026).
In line with these guidelines, several fund houses are updating the names of some of their schemes and, in a few cases, revising scheme details such as asset allocation and asset classes.
These are being carried out to improve transparency and make scheme names clearer and easier to understand.
The changes will take effect from 25 August 2026, but the effective date may vary across fund houses.
**Here’s the list of scheme name changes for each fund house: **
Franklin Templeton Mutual Fund
Effective date: 25 August 2026
| Current Scheme Name | New Scheme Name |
|---|---|
| Franklin India Medium to Long Duration Fund | Franklin India Medium to Long Term Fund |
| Franklin India Corporate Debt Fund | Franklin India Corporate Bond Fund |
| Franklin India Floating Rate Fund | Franklin India Floating Interest Rates Fund |
| Franklin India Government Securities Fund | Franklin India Gilt Fund |
| Franklin India Long Duration Fund | Franklin India Long Term Fund |
| Franklin India Ultra Short Duration Fund | Franklin India Ultra Short Term Fund |
| Franklin India Low Duration Fund | Franklin India Ultra Short to Short Term Fund |
Note: Refer to the notice from Franklin Templeton Mutual Fund for more details.
Sundaram Mutual Fund
Effective date: 25 August 2026
| Current Scheme Name | New Scheme Name |
|---|---|
| Sundaram Ultra Short Duration Fund | Sundaram Ultra Short Term Fund |
| Sundaram Low Duration Fund | Sundaram Ultra Short to Short Term Fund |
| Sundaram Short Duration Fund | Sundaram Short Term Fund |
| Sundaram Medium Duration Fund | Sundaram Medium Term Fund |
| Sundaram Banking & PSU Fund | Sundaram Banking and PSU Debt Fund |
| Sundaram Balanced Advantage Fund | Sundaram Dynamic Asset Allocation Fund |
Note: Sundaram MF is also revising the asset allocation of some schemes. Refer to the notice for full details.
Invesco Mutual Fund
Effective date: 25 August 2026
| Current Scheme Name | New Scheme Name |
|---|---|
| Invesco India Ultra Short Duration Fund | Invesco India Ultra Short Term Fund |
| Invesco India Low Duration Fund | Invesco India Ultra Short to Short Term Fund |
| Invesco India Short Duration Fund | Invesco India Short Term Fund |
| Invesco India Medium Duration Fund | Invesco India Medium Term Fund |
| Invesco India Banking and PSU Fund | Invesco India Banking and PSU Debt Fund |
Note: Invesco has issued separate scheme-specific notices. Some other Invesco debt schemes have changes in their details (e.g., new asset classes) without a name change.
Please refer to the respective scheme notices: Invesco India Liquid Fund | Invesco India Money Market Fund | Invesco India Ultra Short Duration Fund | Invesco India Low Duration Fund | Invesco India Short Duration Fund | Invesco India Medium Duration Fund | Invesco India Corporate Bond Fund | Invesco India Banking and PSU Fund | Invesco India Gilt Fund
ICICI Prudential Mutual Fund
Effective date: 26 August 2026
Equity Category
| Current Scheme Name | New Scheme Name |
|---|---|
| ICICI Prudential Dividend Yield Equity Fund | ICICI Prudential Dividend Yield Fund |
| ICICI Prudential Focused Equity Fund | ICICI Prudential Focused Fund |
| ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund | ICICI Prudential Healthcare Fund |
| ICICI Prudential Midcap Fund | ICICI Prudential Mid Cap Fund |
| ICICI Prudential Multicap Fund | ICICI Prudential Multi Cap Fund |
| ICICI Prudential Smallcap Fund | ICICI Prudential Small Cap Fund |
| ICICI Prudential Flexicap Fund | ICICI Prudential Flexi Cap Fund |
| ICICI Prudential ELSS Tax Saver Fund | ICICI Prudential ELSS – Tax Saver Fund |
Debt Category
| Current Scheme Name | New Scheme Name |
|---|---|
| ICICI Prudential Savings Fund | ICICI Prudential Ultra Short to Short Term Fund |
| ICICI Prudential Medium Term Bond Fund | ICICI Prudential Medium Term Fund |
| ICICI Prudential Long Term Bond Fund | ICICI Prudential Long Term Fund |
| ICICI Prudential Bond Fund | ICICI Prudential Medium to Long Term Fund |
| ICICI Prudential All Seasons Bond Fund | ICICI Prudential Dynamic Term Fund |
| ICICI Prudential Floating Interest Fund | ICICI Prudential Floating Interest Rates Fund |
| ICICI Prudential Constant Maturity Gilt Fund | ICICI Prudential 10 Year Constant Maturity Gilt Fund |
| ICICI Prudential Banking & PSU Debt Fund | ICICI Prudential Banking and PSU Debt Fund |
Hybrid Category
| Current Scheme Name | New Scheme Name |
|---|---|
| ICICI Prudential Equity & Debt Fund | ICICI Prudential Aggressive Hybrid Fund |
| ICICI Prudential Regular Savings Fund | ICICI Prudential Conservative Hybrid Fund |
| ICICI Prudential Multi-Asset Fund | ICICI Prudential Multi Asset Allocation Fund |
Note: Refer to the notice from ICICI Prudential Mutual Fund for more details.
HDFC Mutual Fund
Effective date: 26 August 2026
| Current Scheme Name | New Scheme Name |
|---|---|
| HDFC Large and Mid Cap Fund | HDFC Large & Mid Cap Fund |
| HDFC ELSS Tax Saver | HDFC ELSS - Tax Saver Fund |
| HDFC Hybrid Debt Fund | HDFC Conservative Hybrid Fund |
| HDFC Hybrid Equity Fund | HDFC Aggressive Hybrid Fund |
| HDFC Credit Risk Debt Fund | HDFC Credit Risk Fund |
| HDFC Dynamic Debt Fund | HDFC Dynamic Term Fund |
| HDFC Floating Rate Debt Fund | HDFC Floating Interest Rates Fund |
| HDFC Income Fund | HDFC Medium to Long Term Fund |
| HDFC Long Duration Debt Fund | HDFC Long Term Fund |
| HDFC Low Duration Fund | HDFC Ultra Short to Short Term Fund |
| HDFC Medium Term Debt Fund | HDFC Medium Term Fund |
| HDFC Multi-Asset Allocation Fund | HDFC Multi Asset Allocation Fund |
| HDFC Short Term Debt Fund | HDFC Short Term Fund |
| HDFC Retirement Savings Fund | HDFC Retirement Fund |
Note: Refer to the notice from HDFC Mutual Fund for more details.
Kotak Mutual Fund
Effective date: 26 Aug 2026
Debt Schemes
| Existing Scheme Name | Revised Scheme Name |
|---|---|
| Kotak Savings Fund | Kotak Ultra Short Term Fund |
| Kotak Low Duration Fund | Kotak Ultra Short to Short Term Fund |
| Kotak Bond Short Term Fund | Kotak Short Term Fund |
| Kotak Bond Fund | Kotak Medium to Long Term Fund |
| Kotak Dynamic Bond Fund | Kotak Dynamic Term Fund |
| Kotak Floating Rate Fund | Kotak Floating Interest Rates Fund |
| Kotak Long Duration Fund | Kotak Long Term Fund |
Fund of Fund Schemes
| Existing Scheme Name | Revised Scheme Name |
|---|---|
| Kotak Global Emerging Market Overseas Equity Omni FOF | Kotak Global Emerging Market Overseas Equity Active FOF |
| Kotak Global Innovation Overseas Equity Omni FOF | Kotak Global Innovation Overseas Equity Active FOF |
| Kotak International REIT Overseas Equity Omni FOF | Kotak International REIT Overseas Equity Active FOF |
| Kotak Quality Overseas Equity Omni FOF | Kotak Quality Overseas Equity Active FOF |
Hybrid Schemes
| Existing Scheme Name | Revised Scheme Name |
|---|---|
| Kotak Debt Hybrid Fund | Kotak Conservative Hybrid Fund |
Note: Kotak Mutual Fund has also revised the asset allocation of some schemes. Refer to the notice for full details.
What does this mean for you?
There’s no action required from you. As clarified by SEBI, these changes are not treated as a change in the fundamental attributes of the schemes, and they do not affect any other parameter of your investments.
To view the revised details, refer to the respective notice from each fund house.
Feel free to contact us for any queries.
Happy Investing,
Team Upstox
