Equity mutual funds get a makeover. See what’s new in these five schemes

“HDFC Prudence will continue to be run with the same strategy as before with 75 per cent equity but will be categorised under a balanced advantage where the scheme has 100 per cent flexibility to move between equity and debt. In difficult markets, a truly balanced advantage fund that takes advantage of the flexibility offered in the category will be able to give higher debt allocation,” says Kunal Bajaj, founder and chief executive officer, Clearfunds.