I have seen Parag Parikh Flexi Cap Fund. It invests in US equities as well. However, it has more than 65 % invested in Indian Equities and hence taxation is done as per Indian Equity Fund. I read that for a fund to be classified as Equity Fund (taxation as per India’s Equity Fund), it should have more than 65 % invested in Indian Equities. So, is it necessary for such funds to maintain 65 % of their Equity as Indian Equity. The reason, I am asking is if this fund, reduces Indian Equity to less than 65 %. Then taxation would be similar to Debt Mutual Funds.,