The regulator finally put a number on how much two funds can be the same.
The number is 50 percent.
50
Percent. Under SEBI's February 2026 rule, the most a thematic or value fund may share with another scheme before it counts as a duplicate. 49 pct shared is fine.
Cousin showed me his app on Sunday. Five equity funds, five names, he felt spread out. We lined up the top holdings and it was the same eight stocks over and over. The regulator has been staring at the same problem. In February it drew a line.