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<h1>Mutual fund definitions in Regulation 2 standardize entities, fund types, investor classes and metrics, clarifying compliance obligations</h1> Regulation 2 standardizes and defines key terms governing mutual funds: it prescribes precise statutory meanings for entities (mutual fund, asset management company, sponsor, trustees, custodian, depository), fund types (open-/close-ended, index fund, ETF, gold/silver/infra debt/ fund-of-funds, MF Lite and related AMCs/schemes), investor categories and instruments (accredited investor, equity/equity-related instruments, money market instruments, to-be-listed securities), governance/control relationships (associate, control, group, relative), and metrics (NAV, net worth, liquid net worth, total expense ratio). The operative effect is to fix applicability, rights and compliance obligations throughout the regulations by reference to these uniform definitions and cross-references to other statutes and regulations.