PPFCF benchmark mismatch debate (vs Nifty 500 TRI)

Sat, 16 May 2026 00:00:00 +0000

The PPFCF benchmark-mismatch debate concerns whether the Nifty 500 Total Return Index (TRI) is an appropriate benchmark for the Parag Parikh Flexi Cap Fund given the fund’s structural international-equity allocation. The Nifty 500 TRI is a domestic-Indian-equity-only benchmark that does not include any international constituent, while PPFCF allocates substantially to overseas equity (up to 35 per cent of corpus per mandate, currently 11 to 16 per cent following the post-2022 SEBI overseas-cap incident ). The structural mismatch between the benchmark composition and the fund composition has been the subject of ongoing industry and investor-community debate.

SEBI Benchmark Structure on WebNotes

PPFCF benchmark mismatch debate (vs Nifty 500 TRI)