Sebi’s re-classification exercise has helped create a level playing field among fund houses, Nilesh Shah, MD of Kotak Mahindra AMC, told Mint. “From our point of view there was a caste system in mutual funds. Some people had different asset allocations based on the time they filed offer documents. That was creating a non-level playing field,” he said. The re-categorisation of mutual funds will also help investors compare apples to apples, he added. Shah was speaking on the sidelines of the Mint Mutual Fund Conclave in Mumbai.