Parag Parikh ELSS Tax Saver Fund

From WebNotes, a public knowledge base. Last updated . Reading time ~19 min.

The Parag Parikh ELSS Tax Saver Fund is an open-ended equity-linked savings scheme of PPFAS Mutual Fund, launched on 4 July 2019 by PPFAS Asset Management Private Limited as the third open-ended scheme in the AMC’s product line, after the flagship Parag Parikh Flexi Cap Fund (24 May 2013) and the Parag Parikh Liquid Fund (9 May 2018). It was originally launched as the Parag Parikh Tax Saver Fund and subsequently renamed to Parag Parikh ELSS Tax Saver Fund to align with the AMFI and SEBI directive that all equity-linked savings schemes carry the standardised “ELSS” prefix in scheme nomenclature. The scheme is benchmarked to the Nifty 500 Total Return Index (Nifty 500 TRI).

The Parag Parikh ELSS Tax Saver Fund is constructed under the SEBI Mutual Funds Regulations 1996 and the SEBI Equity Linked Savings Scheme framework, with subscriptions eligible for deduction under Section 80C of the Income-tax Act, 1961, subject to the aggregate annual cap of Rs 1.5 lakh applicable to Section 80C investments (see ELSS Section 80C deduction). Each subscription is subject to a statutory three-year lock-in from the date of allotment of the relevant units, after which the units are freely redeemable. Within the PPFAS Mutual Fund product suite, the ELSS scheme is the Section 80C complement to the flagship Parag Parikh Flexi Cap Fund, providing the AMC’s signature value-investing approach in a tax-deduction-optimised package.

AUM of the Parag Parikh ELSS Tax Saver Fund stood at approximately Rs 5,260.64 crore as of April 2026, having grown materially from launch through a combination of fresh subscriptions and mark-to-market portfolio appreciation. The scheme is jointly managed by Rajeev Thakkar (Chief Investment Officer Equity), Raunak Onkar (Head of Research) and Raj Mehta (debt and overseas) on the equity side, with the fund management team identical to the flagship Parag Parikh Flexi Cap Fund, reinforcing the substantial portfolio overlap between the two schemes.

The Parag Parikh ELSS Tax Saver Fund operates with a substantially similar portfolio construction philosophy to the flagship Flexi Cap Fund, including pan-market-capitalisation investing across large, mid and small cap Indian equities, willingness to hold material cash when valuations are unattractive, and a focused portfolio of 25 to 35 stocks. The principal structural distinction from the flagship is the regulatory 35 per cent overseas allocation ceiling is not used in the ELSS scheme to the same extent as in the Flexi Cap scheme, reflecting practical fund-management choices that vary period-to-period. The scheme returns since inception are tracked by the AMC factsheet and have broadly converged with the parent Flexi Cap Fund returns over the medium-term, reflecting the substantial portfolio overlap.

This article is the principal reference on the Parag Parikh ELSS Tax Saver Fund. Related references include PPFAS Mutual Fund (the asset management company), Parag Parikh Flexi Cap Fund (the parent flagship), ELSS mutual fund India (the SEBI scheme category), and ELSS Section 80C deduction (the tax-deduction framework).

History

4 July 2019: Launch as Parag Parikh Tax Saver Fund

The scheme was launched on 4 July 2019 by PPFAS Asset Management Private Limited as the Parag Parikh Tax Saver Fund, the third open-ended scheme in the AMC’s product line. The launch followed the SEBI scheme rationalisation circular 2017 and the AMC’s strategic decision to add a Section 80C-eligible equity vehicle to the product suite, providing existing flagship Parag Parikh Flexi Cap Fund unitholders the option to deploy their annual Section 80C allocation through the same investment philosophy and fund-management team.

The launch context was operationally significant in several respects:

  • Post-rationalisation product expansion: The launch represented the second post-rationalisation product (after the May 2018 Liquid Fund), extending the AMC’s coverage from a single flagship equity scheme to a three-scheme line-up spanning equity, liquid and tax-saving categories.
  • Fund-management continuity: Lead fund management was assigned to Rajeev Thakkar, with Raunak Onkar and Raj Mehta as co-managers, replicating the Flexi Cap fund management structure.
  • Investment philosophy alignment: The scheme was designed to follow the same value-investing philosophy as the flagship, with substantially overlapping portfolio holdings.
  • NFO subscription period: The new fund offer ran for a defined window in July 2019, with subscription open to retail and institutional investors seeking Section 80C tax-deduction-eligible equity exposure.

Rename to ELSS Tax Saver Fund

Following the AMFI and SEBI standardisation initiative requiring all equity-linked savings schemes to carry the “ELSS” prefix in scheme nomenclature for investor clarity, the scheme was renamed from Parag Parikh Tax Saver Fund to Parag Parikh ELSS Tax Saver Fund. The rename was an administrative nomenclature event and did not alter the scheme’s investment mandate, fund-management team, benchmark, or operational parameters.

The standardisation aligned the PPFAS ELSS scheme name with comparable peer-scheme names, including Axis ELSS Tax Saver Fund (formerly Axis Long Term Equity Fund), Mirae Asset ELSS Tax Saver Fund (formerly Mirae Asset Tax Saver Fund), and similar industry-wide adoptions.

AUM growth

The Parag Parikh ELSS Tax Saver Fund AUM has grown materially since launch, driven by:

  • Cross-sale from Flexi Cap unit-holders: PPFAS unit-holders subscribing to the ELSS scheme to deploy their annual Section 80C allocation within the same AMC product suite.
  • Direct new-investor inflows: New investors entering PPFAS scheme suite through the ELSS scheme as their first PPFAS product.
  • Mark-to-market portfolio appreciation: Reflecting the value-investing portfolio’s contribution to NAV appreciation over the 2019 to 2026 period.

AUM stood at approximately Rs 5,260.64 crore as of April 2026, modest relative to the flagship Flexi Cap Fund’s Rs 1.4 lakh crore but materially scaled relative to the launch corpus.

Investment mandate

SEBI ELSS category constraints

The Parag Parikh ELSS Tax Saver Fund is classified as an Equity Linked Savings Scheme (ELSS) under the SEBI scheme categorisation framework set out in the SEBI scheme rationalisation circular 2017. The ELSS category is defined as an open-ended equity-linked savings scheme subject to the additional regulatory framework set out in the Equity Linked Savings Scheme, 2005 notified by the Ministry of Finance (subsequently the Equity Linked Savings Scheme, 2005 as amended), which imposes:

  • Minimum 80 per cent equity allocation: An ELSS scheme must invest at least 80 per cent of net assets in equity and equity-related instruments.
  • Three-year lock-in: Each subscription is locked in for three years from the date of allotment, with no redemption permitted during the lock-in period.
  • No exit load: ELSS schemes do not levy exit load (the three-year lock-in functions as the structural exit barrier).
  • Section 80C eligibility: Subscriptions up to Rs 1.5 lakh per financial year in aggregate (across all Section 80C-eligible investments) are deductible from gross taxable income.

Portfolio construction

The Parag Parikh ELSS Tax Saver Fund portfolio is constructed under the PPFAS value-investing philosophy with substantial overlap with the flagship Parag Parikh Flexi Cap Fund. Key characteristics:

  • Pan-market-capitalisation investing: Investments across large, mid and small cap Indian equity, with allocation guided by stock-specific valuation rather than market-cap-segment targeting.
  • Focused portfolio of 25 to 35 stocks: Concentrated portfolio with each holding intended to be a material contributor.
  • Quality and valuation discipline: Stock selection guided by the value-investing margin-of-safety framework articulated by Parag Parikh in his 2009 book “Value Investing and Behavioral Finance”.
  • Willingness to hold cash: Periodic willingness to hold elevated cash levels when valuations are unattractive.
  • Sector tilts: Periodic over- and under-weights to specific sectors based on valuation and quality assessment.

Overseas allocation

The ELSS regulatory framework does not prohibit overseas allocation, and the Parag Parikh ELSS Tax Saver Fund retains the structural option to invest in overseas equity within the broader SEBI SEBI MF overseas investment cap framework. In practice, the ELSS scheme has typically maintained a smaller overseas allocation than the flagship Flexi Cap Fund, reflecting practical fund-management choices and the post-February 2022 industry-wide RBI/SEBI overseas-investment cap constraint that has limited PPFAS’s incremental foreign-asset deployment across schemes.

Equity-oriented tax status

The Parag Parikh ELSS Tax Saver Fund maintains a minimum 80 per cent equity allocation under the ELSS regulatory framework, satisfying the SEBI/Income-tax-Act test for equity-oriented mutual fund tax treatment. As an equity-oriented scheme, the Parag Parikh ELSS Tax Saver Fund attracts the favourable equity-oriented tax regime described under equity mutual fund taxation India.

Fund management

The Parag Parikh ELSS Tax Saver Fund is jointly managed by three fund managers from the PPFAS equity and debt desks.

Rajeev Thakkar, Chief Investment Officer (Equity)

Rajeev Thakkar is the Chief Investment Officer (Equity) and Director of PPFAS Asset Management. Thakkar holds a B.Com from the University of Bombay and is a Chartered Accountant (ICAI), Cost Accountant, and CFA Charterholder. He began his market career in 1994, joined PPFAS Ltd in 2001, was appointed Fund Manager in 2003 for the Cognito Portfolio Management Service, served as CEO of PPFAS Ltd from 2007 to 2012, and has continuously managed the flagship Parag Parikh Flexi Cap Fund since its 2013 launch. He is the lead fund manager of the ELSS scheme since its 2019 launch.

Raunak Onkar, Head of Research

Raunak Onkar is Head of Research at PPFAS Asset Management and co-fund manager of multiple PPFAS schemes including the Parag Parikh Flexi Cap Fund, the ELSS Tax Saver Fund, the Parag Parikh Conservative Hybrid Fund, the Parag Parikh Arbitrage Fund, the Parag Parikh Dynamic Asset Allocation Fund, and the Parag Parikh Large Cap Fund. Onkar holds a B.Sc in Information Technology and an MMS in Finance, both from the University of Mumbai, and joined PPFAS in 2008 as an intern in the Research Team. He tracks the Technology, Pharma and Media sectors among others. Onkar was a passenger in the May 2015 Omaha vehicle accident in which the AMC founder Parag Parikh died.

Raj Mehta, Fund Manager (Debt)

Raj Mehta is Executive Vice President and Fund Manager (Debt) at PPFAS Asset Management. Mehta holds a B.Com from N.M. College, University of Mumbai, is a Fellow Member of ICAI, and is a CFA Charterholder. He joined PPFAS in 2012 as an intern and progressed to analyst and Fund Manager. He manages debt-side allocation across PPFAS schemes, including the ELSS scheme’s cash and short-debt sleeve.

Performance

Benchmark: Nifty 500 TRI

The Parag Parikh ELSS Tax Saver Fund is benchmarked to the Nifty 500 Total Return Index, a market-capitalisation-weighted total-return index covering the top 500 listed companies on the National Stock Exchange of India by free-float market capitalisation. The Nifty 500 TRI is the standard benchmark for diversified pan-market-capitalisation equity schemes (including flexi-cap and many ELSS schemes) and aligns with the PPFAS pan-market-cap investing approach.

The scheme reports both regular plan and direct plan returns against the Nifty 500 TRI benchmark in monthly factsheets and other unitholder communications.

Returns and benchmark comparison

The Parag Parikh ELSS Tax Saver Fund has substantively outperformed the Nifty 500 TRI benchmark and the ELSS category average since inception, reflecting the substantial portfolio overlap with the high-performing flagship Parag Parikh Flexi Cap Fund. Specific point-in-time return metrics are published in the monthly AMC factsheet at https://amc.ppfas.com/downloads/factsheet/, with both rolling versus trailing returns presentations available for the standard reporting periods.

The scheme’s three-year and five-year rolling returns are particularly relevant given the statutory three-year lock-in, providing the natural minimum holding period for evaluating the scheme’s performance.

Peer comparison

Within the SEBI ELSS category, the Parag Parikh ELSS Tax Saver Fund competes with substantially larger and longer-established ELSS schemes including:

  • Axis ELSS Tax Saver Fund (the historical category leader, now renamed from Axis Long Term Equity Fund).
  • Mirae Asset ELSS Tax Saver Fund (formerly Mirae Asset Tax Saver Fund).
  • Quant ELSS Tax Saver Fund.
  • Aditya Birla Sun Life ELSS Tax Saver Fund (formerly Aditya Birla Sun Life Tax Relief 96 Fund).
  • SBI Long Term Equity Fund.
  • HDFC ELSS Tax Saver Fund.

The Parag Parikh ELSS Tax Saver Fund differentiates from peer schemes principally through:

  • Portfolio overlap with PPFCF: The scheme’s portfolio closely mirrors the flagship Flexi Cap Fund, providing PPFAS philosophical consistency within the ELSS category.
  • Focused portfolio: The 25 to 35 stock concentration is materially more focused than the typical ELSS scheme’s 50 to 80 stock portfolio.
  • Conservative cash positioning: Periodic willingness to hold elevated cash when valuations are unattractive, in contrast to many peer ELSS schemes that maintain near-fully-invested positions.

Operational details

Total Expense Ratio (TER)

The Parag Parikh ELSS Tax Saver Fund TER is set under the SEBI Mutual Funds Regulations 1996 Regulation 52 slab structure applicable to equity-oriented open-ended schemes. The Direct Plan TER is materially lower than the Regular Plan TER, reflecting the absence of distributor commissions in the Direct Plan structure under the regular versus direct plan mutual fund framework.

Exit load

The Parag Parikh ELSS Tax Saver Fund, in common with all SEBI ELSS schemes, does not levy an exit load. The statutory three-year lock-in from the date of allotment functions as the structural exit barrier; redemption is not permitted during the lock-in period.

Minimum investment

The minimum investment in the Parag Parikh ELSS Tax Saver Fund is Rs 500 for lump-sum subscriptions and Rs 500 for SIP subscriptions, in line with the SEBI ELSS-category convention adopted across the Indian ELSS scheme universe.

Custodian and RTA

  • Custodian: Deutsche Bank AG, Mumbai Branch.
  • Registrar and Transfer Agent (RTA): Computer Age Management Services Limited (CAMS).
  • Statutory Auditor: M/s. M. M. Nissim and Co. LLP.

Subscription and redemption cut-off times for the ELSS scheme follow the SEBI NAV applicability rule 2021, as detailed in the applicable NAV mutual fund and NAV cut-off reform 2021 articles. The applicable NAV is governed by the realisation-day rule rather than the time-of-application rule.

Tax treatment

Section 80C deduction (at subscription)

Subscriptions to the Parag Parikh ELSS Tax Saver Fund qualify for deduction under Section 80C of the Income-tax Act, 1961, subject to the aggregate annual Section 80C deduction cap of Rs 1.5 lakh. The Section 80C cap is aggregated across all Section 80C-eligible investments including ELSS subscriptions, Public Provident Fund (PPF) contributions, Employees’ Provident Fund (EPF) contributions, life insurance premiums, principal repayment of home loans, National Savings Certificate (NSC) subscriptions, certain tax-saver fixed deposits, Sukanya Samriddhi Yojana contributions, and other Section 80C-eligible heads. The deduction is available only under the Old Tax Regime; the New Tax Regime under Section 115BAC does not permit Section 80C deductions, materially affecting the post-2023 ELSS competitive position. See ELSS Section 80C deduction for the detailed framework.

Capital-gains tax (at redemption)

Capital gains on redemption of Parag Parikh ELSS Tax Saver Fund units are taxed under the equity-oriented mutual fund tax regime governed by Section 112A (for long-term capital gains) and Section 111A (for short-term capital gains):

  • Long-term capital gains (LTCG): Gains on redemption of units held for more than 12 months are taxed at 12.5 per cent (post-Finance Act 2024 amendment, effective for transfers on or after 23 July 2024) on the aggregate annual LTCG above the Rs 1.25 lakh exemption threshold. Note: Because of the three-year lock-in, all ELSS redemptions necessarily qualify as long-term (holding period strictly greater than 12 months).
  • Short-term capital gains (STCG): Not applicable in normal course because of the three-year lock-in (redemption is not permitted before three years and any post-three-year redemption is necessarily LTCG-classified). In the limited case of segregated portfolio units or other extraordinary transfer scenarios, STCG would be taxed at the Section 111A rate of 20 per cent (post-Finance Act 2024) on equity-oriented schemes.
  • Grandfathering: The equity MF grandfathering Jan 2018 provision (deemed acquisition cost as the higher of actual cost and 31 January 2018 fair market value, capped at sale consideration) applies to ELSS units purchased before 1 February 2018, although this is not relevant to the Parag Parikh ELSS Tax Saver Fund which launched in July 2019.

Cumulative tax efficiency

The ELSS tax efficiency over the holding cycle is the cumulative product of:

  • Section 80C deduction at subscription, providing tax savings up to 30 per cent + applicable surcharge and cess on Rs 1.5 lakh for highest-bracket Old-Regime taxpayers.
  • Equity-oriented tax treatment at redemption, providing the 12.5 per cent LTCG concessional rate above the Rs 1.25 lakh annual exemption.

For high-tax-bracket Old-Regime taxpayers, the combined ELSS tax efficiency is materially more favourable than non-Section-80C equity scheme tax efficiency. The New Tax Regime under Section 115BAC eliminates the Section 80C deduction, leaving only the redemption-stage equity-oriented tax efficiency, which is identical to non-ELSS equity scheme tax efficiency.

Distribution channels

Direct Plan

The Direct Plan of the Parag Parikh ELSS Tax Saver Fund is available through:

  • PPFAS SelfInvest portal: https://selfinvest.ppfas.com/ (web and mobile applications).
  • MF Utility (MFU): MF Utility consolidated industry platform.
  • MF Central: MF Central joint CAMS-KFin investor service portal.
  • CAMS Online: CAMS Online RTA-direct portal.
  • BSE StAR MF: BSE-platform direct-plan access.
  • Third-party Direct Plan platforms: Zerodha Coin, Groww, Kuvera, ET Money, Paytm Money, INDmoney, 5Paisa, Angel One, mStock, Upstox and others. The how to invest ELSS Coin article provides a step-by-step procedure for the Zerodha Coin platform.

Regular Plan

The Regular Plan is available through ARN-empaneled mutual fund distributors under the AMFI ARN framework, with distributor commissions paid as trail commissions under the mutual fund trail commission framework.

Comparison with peer schemes

Comparison with NPS, PPF, and ULIPs

The principal tax-saving alternatives to ELSS under Section 80C (and adjacent sections) are:

  • National Pension System (NPS): Section 80CCD(1) plus Section 80CCD(1B) additional Rs 50,000 deduction. See ELSS vs NPS for the comparison framework.
  • Public Provident Fund (PPF): 15-year lock-in, government-administered, tax-free interest. See ELSS vs PPF for the comparison framework.
  • Unit-Linked Insurance Plans (ULIPs): Insurance-linked investment products with five-year lock-in; tax-free maturity proceeds subject to premium-cap conditions; Section 80C eligibility. See ELSS vs ULIP for the comparison framework.

ELSS schemes, including the Parag Parikh ELSS Tax Saver Fund, offer the shortest lock-in (three years) among the principal Section 80C investment alternatives, alongside the equity-oriented return profile and tax efficiency. Investors weighing tax-saving alternatives typically choose ELSS over PPF when seeking equity-linked return potential and over NPS when preferring liquidity (NPS is locked until retirement age subject to limited withdrawal exceptions).

Comparison with peer ELSS schemes

Within the ELSS category, the Parag Parikh ELSS Tax Saver Fund’s distinctive features relative to peer schemes are:

  • Substantial portfolio overlap with PPFCF: The flagship Flexi Cap Fund philosophy applied within the ELSS three-year-lock-in vehicle.
  • Focused 25 to 35 stock portfolio: Materially more concentrated than the typical 50 to 80 stock ELSS portfolio.
  • Periodic elevated cash positioning: Willingness to hold cash when valuations are unattractive.
  • Modest AUM scale: Rs 5,260.64 crore as of April 2026 is materially smaller than the largest ELSS funds in the category, providing scope for continued AUM growth without category-leading scale-related operational constraints.

Recent developments

Scheme name standardisation

The rename from Parag Parikh Tax Saver Fund to Parag Parikh ELSS Tax Saver Fund aligned with the AMFI/SEBI industry-wide initiative to standardise ELSS scheme nomenclature. The rename did not alter the scheme’s investment characteristics, fund management, benchmark, or operational parameters.

Finance Act 2024 LTCG rate amendment

The Finance Act 2024 amended Section 112A to revise the LTCG rate on equity-oriented mutual funds from 10 per cent to 12.5 per cent for transfers on or after 23 July 2024, with a concurrent increase in the LTCG exemption threshold from Rs 1 lakh to Rs 1.25 lakh per financial year. The amendment applies to redemptions of Parag Parikh ELSS Tax Saver Fund units for transfers on or after 23 July 2024.

Old vs New Tax Regime impact

The successive Finance Act amendments to the New Tax Regime under Section 115BAC, including the FY 2024-25 and FY 2025-26 expansions of the New Regime slab structure and standard deduction, have materially affected ELSS subscription incentives by reducing the marginal tax-saving benefit of the Section 80C deduction for Old-Regime adherents and eliminating it altogether for New-Regime adherents. This is a category-wide phenomenon rather than a Parag Parikh ELSS Tax Saver Fund-specific issue, but it forms the recurring backdrop to ELSS subscription trends.

Criticism and debates

Portfolio overlap with flagship Flexi Cap Fund

A recurring critique in industry commentary is that the Parag Parikh ELSS Tax Saver Fund portfolio overlaps substantially with the flagship Parag Parikh Flexi Cap Fund, providing limited diversification benefit to unit-holders already holding the Flexi Cap Fund. PPFAS has responded that the portfolio overlap is by design, reflecting the consistent application of the AMC’s value-investing philosophy across schemes, and that the diversification benefit of the ELSS scheme is in the tax-treatment dimension (Section 80C deduction) rather than in the portfolio-construction dimension.

Three-year lock-in versus other ELSS choices

The three-year lock-in is a category-mandatory feature and applies identically across all ELSS schemes. Critics note that the lock-in restricts the unit-holder’s ability to rebalance across schemes if scheme-manager performance deteriorates. PPFAS has structurally addressed this concern through fund-management continuity (the same fund managers since launch) and the consistent investment philosophy that minimises scheme-manager rotation risk.

Limited overseas allocation

A third concern, raised periodically in unit-holder communications, is that the ELSS scheme does not fully use the regulatory option for overseas allocation. PPFAS has cited the post-February 2022 industry-wide overseas-investment cap freeze as the principal driver of conservative overseas-allocation choices across the AMC’s schemes, with the SEBI MF overseas investment cap constraint affecting incremental foreign-asset deployment across the PPFAS product suite.

See also

External references

References

  1. PPFAS Asset Management Private Limited, “Parag Parikh ELSS Tax Saver Fund”, AMC scheme page, https://amc.ppfas.com/schemes/parag-parikh-tax-saver-fund/, retrieved 16 May 2026.
  2. PPFAS Mutual Fund, “Monthly Factsheet” series, https://amc.ppfas.com/downloads/factsheet/, retrieved 16 May 2026.
  3. AMFI, “PPFAS Mutual Fund Member Page”, https://www.amfiindia.com/member/64, retrieved 16 May 2026.
  4. SEBI, “Categorization and Rationalization of Mutual Fund Schemes”, Circular SEBI/HO/IMD/DF3/CIR/P/2017/114 dated 6 October 2017, https://www.sebi.gov.in/legal/circulars/oct-2017/categorization-and-rationalization-of-mutual-fund-schemes_36199.html, retrieved 16 May 2026.
  5. Government of India, Ministry of Finance, “Equity Linked Savings Scheme, 2005” notification, as subsequently amended, https://incometaxindia.gov.in/, retrieved 16 May 2026.
  6. Government of India, Income-tax Act 1961, Section 80C, Section 112A, Section 111A (as amended by Finance Act 2024), https://www.indiacode.nic.in/, retrieved 16 May 2026.
  7. PPFAS Asset Management Private Limited, “Scheme Information Document and Statement of Additional Information”, https://amc.ppfas.com/schemes/parag-parikh-tax-saver-fund/, retrieved 16 May 2026.
  8. SEBI, “Mutual Funds Regulations, 1996” (as amended), https://www.sebi.gov.in/legal/regulations/jul-2024/securities-and-exchange-board-of-india-mutual-funds-regulations-1996-last-amended-on-july-08-2024-_85101.html, retrieved 16 May 2026.
  9. PPFAS Asset Management Private Limited, “Local Fund with Global Focus” page, https://amc.ppfas.com/schemes/local-fund-with-global-focus/, retrieved 16 May 2026.
  10. NSE Indices Limited, “Nifty 500 Total Return Index”, https://www.niftyindices.com/, retrieved 16 May 2026.
  11. PPFAS Asset Management Private Limited, “Fund Managers”, https://amc.ppfas.com/schemes/fund-managers/, retrieved 16 May 2026.
  12. PPFAS Asset Management Private Limited, “About Us” / Management, https://amc.ppfas.com/about-us/management/, retrieved 16 May 2026.

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed
Conflicts of interest
WebNotes is independent. No relationship with any broker, registrar or bank named in this article.