According to media reports, the Securities & Exchange Board of India (SEBI) is evaluating the category of benchmarks being currently used to compare the returns of equity mutual fund schemes. This means SEBI may change a methodology to calculate NAV of an equity scheme. Also, the guidelines will be in line with global standards as SEBI gradually intends to move towards uniform calculation standards adopted overseas. As per Global Investment Performance Standards or GIPS, all portfolios must be valued in consonance of fair valuation.