Are Multicap Funds the next best thing?

Recently as SEBI has proposed new rules for Multicap Funds i.e. Fund Managers have to allocate 25% from each asset class i.e. largecap, midcap and smallcap.

So what are your opinions, 

Are Multicap Funds looking attractive or will it lose its importance?

Also please feel free to Specify your goto assets for Mutual Funds

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