New Delhi, Aug. 20 -- Mutual fund (MF) houses have sought clarity from the capital markets regulator on its recent proposal to allow them to launch an additional scheme once the assets under management (AUM) of a particular scheme crosses Rs.50,000 crore.

As per an 18 July draft circular of the Securities and Exchange Board of India (Sebi), asset management companies (AMCs) would be allowed to launch an additional scheme in the same category of the older one that has reached the Rs.50,000-crore AUM mark. The older scheme will then have to stop receiving subscriptions.

The draft paper had invited comments until 8 August.

"Even though the circular says that the existing scheme will have no new inflows, for now it is not clear what will h...