The Securities and Exchange Board of India will soon come out with a long-term policy that will help deepen the penetration of the mutual fund industry into non-metro markets. Speaking to reporters in Mumbai on Monday, SEBI Chairman U K Sinha said that the policy will help the industry in creating more understanding and better positioning of its products amongst investors.Sinha said that Mutual Funds have lost their focus and the idea behind this long-term policy will be to ensure that amongst the whole bouquet of financial products, the role and purpose of mutual funds is well established.Talking about the Rajiv Gandhi equity investment scheme, launched specially to encourage first-time investors into stock market, Sinha said the plan has not picked up well and the regulator will try to find out the reasons for the same.He said that SEBI will engage with the industry to understand their challenges.