The markets regulator, the Securities and Exchange Board of India (SEBI), on February 26 introduced a new rule that allows equity mutual funds to invest a portion of their portfolio in gold and silver. The move is part of a broader set of reforms aimed at making mutual fund schemes more flexible and diversified. Under the revised norms, actively managed equity funds may, after meeting core allocation requirements, invest their residual portion, up to 35% of assets, in gold and silver instruments as well as units of infrastructure investment trusts. The move broadens the investment toolkit available to stock funds beyond money-market and liquid securities.