Guides
A growing collection of how-to guides and reference notes.
- Raunak Onkar
Encyclopedic biographical reference on Raunak Onkar, Head of Research at PPFAS Asset Management Private Limited and co-fund manager of the Parag Parikh Flexi Cap Fund since its 24 May 2013 launch. Covers his BSc Information Technology and MMS (Finance) from the University of Mumbai, 2008 entry into PPFAS as a research intern, primary sector coverage of Technology, Pharma and Media, his presence as a passenger in the 3 May 2015 Omaha accident, and his ongoing role across multiple PPFAS schemes.
- Rajeev Thakkar Public Talks and Interviews
Encyclopedic reference on the public talks and interviews of Rajeev Thakkar, Chief Investment Officer (Equity) and Director of PPFAS Mutual Fund. Covers his recurring appearances at FLAME University, CFA Society India and AMFI events, his press interviews with major Indian business publications and television, and his role in podcast and YouTube creator collaborations as the principal investment voice of PPFAS Mutual Fund.
- Rajeev Thakkar
Encyclopedic biographical reference on Rajeev Thakkar, Chief Investment Officer (Equity) and Director of PPFAS Asset Management Private Limited, and the lead fund manager of the Parag Parikh Flexi Cap Fund (PPFCF) since its launch on 24 May 2013. Covers his B.Com from University of Bombay, Chartered Accountant and CFA Charterholder qualifications, the 1994 career start, the 2001 joining of PPFAS Limited, the 2003 appointment as Fund Manager of the Cognito Portfolio Management Service, the 2007 to 2012 tenure as CEO of PPFAS Limited, the May 2013 PPFCF launch and continuous fund management through the May 2025 Rs 1 lakh crore AUM milestone, his role as the principal authorial voice of the long-form PPFAS monthly factsheet commentary, his presence as the driver in the May 2015 Omaha accident that took the life of founder Parag Parikh, and his ongoing role as the public face of PPFAS investment philosophy.
- Raj Mehta
Encyclopedic biographical reference on Raj Mehta, Executive Vice President and Fund Manager (Debt) at PPFAS Asset Management Private Limited, the AMC of PPFAS Mutual Fund. Covers his B.Com from N. M. College Mumbai, Fellow Chartered Accountant (FCA) and CFA Charterholder credentials, his 2012 entry as an intern, his progression to Fund Manager, his oversight of the debt and overseas allocation of the Parag Parikh Flexi Cap Fund, and his named role across multiple PPFAS schemes.
- PPFCF vs the multi-cap category
A factual comparison of the Parag Parikh Flexi Cap Fund (PPFCF) and the SEBI multi-cap mutual fund category, covering the September 2020 multi-cap allocation rule that mandated 25 per cent each in large, mid and small caps, the November 2020 creation of the flexi cap category in response, the structural differences in cap-segment freedom, portfolio construction, risk profile, and tax treatment.
- PPFCF vs SBI Flexi Cap Fund
A factual comparison of the Parag Parikh Flexi Cap Fund (PPFCF) and the SBI Flexi Cap Fund, contrasting a focused value-investing scheme with up to 35 per cent international allocation against a diversified domestic flexi cap scheme run by India's largest mutual fund AMC, covering AUM scale, portfolio construction, philosophy, fund manager track record, costs, and tax treatment.
- PPFCF vs Quant Flexi Cap Fund
A factual comparison of the Parag Parikh Flexi Cap Fund (PPFCF) and the Quant Flexi Cap Fund, contrasting a long-term value-investing approach with low portfolio turnover against a momentum-driven quantitative approach with substantially higher turnover, covering investment philosophy, portfolio construction, fund manager team, risk-adjusted returns, costs, taxation, and recent developments.
- PPFCF vs Kotak Flexi Cap Fund
A factual comparison of the Parag Parikh Flexi Cap Fund (PPFCF) and the Kotak Flexi Cap Fund, covering value investing versus growth orientation, overseas allocation, portfolio construction, fund manager track record, expense ratio, taxation, and the structural differences between a boutique value-oriented AMC and a large bank-promoted AMC operating in the same SEBI flexi cap category.
- PPFCF vs international FoFs for global exposure
A factual comparison of the Parag Parikh Flexi Cap Fund (PPFCF) and international Fund-of-Fund (FoF) products such as S&P 500 FoF and Nasdaq 100 FoF as alternatives for Indian investors seeking global equity exposure, covering tax treatment differences after the April 2023 Finance Act, allocation differences, SEBI overseas cap implications, and the structural choice between embedded international allocation and dedicated international vehicles.
- PPFCF vs HDFC Flexi Cap Fund
A factual comparison of the Parag Parikh Flexi Cap Fund (PPFCF) and the HDFC Flexi Cap Fund, two of the largest flexi cap mutual funds in India, covering assets under management trajectory, overseas allocation, portfolio size, investment philosophy, fund manager track record, taxation, distribution channels, and the structural differences in how each scheme operationalises the flexi cap mandate created by SEBI in November 2020.
- PPFCF International Allocation: Tax Implications
Encyclopedic reference on the tax implications of the Parag Parikh Flexi Cap Fund (PPFCF) international equity allocation. Covers the preservation of the 65 per cent Indian-equity threshold for equity-oriented tax status, the equity-oriented versus international fund-of-fund tax comparison, the structural tax-efficiency advantage of direct foreign holdings versus feeder-fund structures, and the Finance Act 2023 debt-fund regime impact on international FoFs and the corresponding insulation of PPFCF's equity-oriented status.
- PPFCF contrarian turnaround case studies
Encyclopedic composite reference on contrarian turnaround case studies in the Parag Parikh Flexi Cap Fund (PPFCF) portfolio. Covers the structural contrarian-investing approach at PPFAS Mutual Fund (building positions in distressed-but-fundamentally-sound businesses), the principal contrarian case studies including the PSU contrarian build (Coal India, Power Grid, NTPC, ONGC) during periods of negative-sentiment underweight, the ITC contrarian build during consumer-staples underperformance periods, periodic technology-sector positions during sector underperformance, and the broader pattern of patient capital deployment when market sentiment is negative on fundamentally-attractive businesses.
- PPFCF benchmark mismatch debate (vs Nifty 500 TRI)
Encyclopedic reference on the benchmark-mismatch debate for the Parag Parikh Flexi Cap Fund (PPFCF) regarding the appropriateness of the Nifty 500 TRI benchmark given the fund's structural international allocation. Covers the argument that the domestic-only Nifty 500 TRI benchmark inadequately captures the international-equity component of PPFCF's portfolio, the PPFAS counter-argument that the domestic benchmark is consistent with the principal domestic-investor mandate, the SEBI two-tier benchmark structure introduced 27 December 2021, the alternative international-blend benchmark options, the operational implications for performance attribution and comparison, and the broader implications for Indian mutual fund benchmark conventions.
- PPFCF AUM trajectory
Encyclopedic reference on the assets under management (AUM) growth trajectory of the Parag Parikh Flexi Cap Fund (PPFCF) from approximately Rs 5 crore at the 24 May 2013 NFO seed through Rs 5,000 crore at the AMC level by March 2018, Rs 35,000 crore by March 2023, Rs 93,440.89 crore by March 2025, the May 2025 crossing of the Rs 1 lakh crore milestone as India's first actively managed equity mutual fund scheme to reach the milestone, Rs 1.30 lakh crore by November 2025, Rs 1,40,949 crore by April 2026, and Rs 1,60,952 crore by 15 May 2026. Covers the principal AUM milestones, the drivers of AUM growth (organic SIP flows, direct-plan dominance, content-driven discovery, performance-driven inflows, word-of-mouth recommendation), the 2022 SEBI overseas cap operational constraints, and the capacity-vs-concentration debate at substantial AUM scale.
- PPFAS YouTube Channel
Encyclopedic reference on the PPFAS Mutual Fund YouTube channel, the audio-visual content platform operated by PPFAS Asset Management Private Limited at youtube.com/user/ppfasltd. Covers the channel's role in livestreaming the Annual Unitholders' Meet, hosting investor-education videos, market commentary archives, the post-2020 substantial subscriber-growth trajectory, and the broader content-led brand-growth model anchored by the channel.
- PPFAS vs Quantum Mutual Fund
A factual comparison of PPFAS Mutual Fund and Quantum Mutual Fund as two of India's most prominent boutique value-oriented asset management companies, contrasting the Parag Parikh Flexi Cap Fund with the Quantum Long Term Equity Value Fund, covering scheme set differences, investment philosophy, ownership structure, distribution architecture, fees, and tax treatment.
- PPFAS vs Quant Mutual Fund
A factual comparison of PPFAS Mutual Fund and Quant Mutual Fund, two AMCs with structurally opposite investment approaches operating in the Indian mutual fund industry, contrasting the PPFAS value-investing low-turnover philosophy with the Quant VLRT quantitative-momentum framework, covering scheme set, portfolio turnover, risk-adjusted returns, fund manager team, and regulatory developments.
- PPFAS vs Motilal Oswal Mutual Fund
A factual comparison of PPFAS Mutual Fund and Motilal Oswal Mutual Fund, two AMCs with focused-portfolio approaches in the Indian mutual fund industry, contrasting the Parag Parikh Flexi Cap Fund with the Motilal Oswal Focused 25 Fund, covering international allocation differences, the buy right sit tight investment doctrine, fund manager structures, fees, taxation, and the philosophical similarities and differences between the two AMCs.
- PPFAS vs Marcellus PMS
A factual comparison of PPFAS Mutual Fund and Marcellus Investment Managers (PMS), covering the structural difference between a mutual fund AMC and a portfolio management service, the minimum investment threshold of Rs 50 lakh under PMS regulations versus Rs 1,000 in mutual funds, tax treatment differences, fee structures, and the philosophical contrast between value-investing focused diversification and Marcellus Consistent Compounders portfolio.
- PPFAS view on technology stocks
Encyclopedic reference on the PPFAS Mutual Fund approach to technology-sector equity investing. Covers the foreign-core technology allocation in Alphabet, Microsoft, Amazon and Meta Platforms, the Indian information-technology services holdings at Infosys, TCS, HCL Technologies and Persistent Systems, the durable competitive advantages thesis, the valuation discipline applied to technology equities and the structural differences between Indian IT services and global technology platforms within the Parag Parikh Flexi Cap Fund portfolio.
- PPFAS view on Indian PSUs
Encyclopedic reference on the PPFAS Mutual Fund approach to Indian Public Sector Undertaking (PSU) equities. Covers the contrarian build of PSU positions during periods of negative market sentiment, the valuation-discipline framework, the capital-intensive moat thesis at companies such as Coal India, Power Grid Corporation, NTPC and ONGC, the role of high dividend yields, considerations around PSU privatisation and government strategic-stake reductions, and the operational evolution of PSU holdings at the Parag Parikh Flexi Cap Fund through multiple market cycles from 2013 to 2026.
- PPFAS view on consumption stocks
Encyclopedic reference on the PPFAS Mutual Fund approach to Indian consumption-sector equity investing. Covers the long-running contrarian-build ITC position, the periodic positions in Maruti Suzuki India, Mahindra and Mahindra and Hero MotoCorp, the Indian consumption-economy structural growth thesis, the valuation-driven entry-point selection discipline, the FMCG and auto-sector views at the Parag Parikh Flexi Cap Fund and the operational evolution of consumption-sector holdings through multiple market cycles from 2013 to 2026.
- PPFAS view on banking and financials
Encyclopedic reference on the PPFAS Mutual Fund approach to Indian banking and financial-services equity investing. Covers the long-running positions in HDFC Bank, ICICI Bank and Kotak Mahindra Bank at the Parag Parikh Flexi Cap Fund, the Bajaj Holdings position as diversified financial-sector exposure, the structural sectoral thesis on Indian banking and financial services growth, and the operational evolution of banking and financial-services holdings through multiple market cycles from 2013 to 2026.
- PPFAS Twitter/X Presence
Encyclopedic reference on the Twitter/X presence of PPFAS Mutual Fund, operating under the handle @PPFAS at x.com/PPFAS. Covers content patterns, engagement with the retail-investor community, the 2 February 2022 overseas-cap suspension communication that referenced the AMC's 'passionate fan following,' and the role of the X account within the AMC's broader communications tradition.
- PPFAS Trustee Company Private Limited
Encyclopedic reference on PPFAS Trustee Company Private Limited, the trustee entity of PPFAS Mutual Fund (CIN U65100MH2011PTC221203). Covers the trustee company's incorporation in 2011, its role as the fiduciary supervisor of PPFAS Asset Management Private Limited and the holder of PPFAS Mutual Fund assets in trust for unitholders, the board of directors with SEBI-required independence from sponsor PPFAS Limited, the half-yearly trustee report submission to SEBI, the approval of material AMC operational decisions, and the structural fiduciary-duty framework that underpins the broader PPFAS Mutual Fund governance architecture.
- PPFAS Trustee Company directors
Encyclopedic reference on the directors of PPFAS Trustee Company Private Limited, the trustee entity of PPFAS Mutual Fund. Covers the board composition under the SEBI Mutual Funds Regulations 1996 requirement that at least two-thirds of trustee directors be independent of the sponsor, the directors as identified in the FY 2019 to 2020 trustee annual report (P. A. Balasubramanian, Rajan Mehta, Dhaval Desai, Suneel Gautam), the fiduciary duties of trustee directors, the tenure-limit framework under SEBI's progressive 2020 to 2025 amendments, the continuing-education and conflict-of-interest requirements, and the comparison with peer trustee company boards in the broader Indian mutual fund industry.
- PPFAS TER History per Scheme
Encyclopedic reference on the total expense ratio (TER) history across the seven active schemes of PPFAS Mutual Fund, covering the SEBI Regulation 52 maximum TER framework with its AUM-slab structure, the Direct Plan and Regular Plan TER differential across schemes, the trajectory of the Parag Parikh Flexi Cap Fund TER from launch in May 2013 to the current Direct Plan TER of approximately 0.63 per cent and Regular Plan TER of approximately 1.32 per cent, the per-scheme TER trends for Parag Parikh Liquid Fund, ELSS Tax Saver Fund, Conservative Hybrid Fund, Arbitrage Fund, Dynamic Asset Allocation Fund and the recently launched Large Cap Fund, and comparison with the industry-average TER for the flexi-cap, large-cap, ELSS and liquid categories.
- PPFAS stance on not chasing AUM
Encyclopedic reference on the PPFAS Mutual Fund stance of not chasing assets under management, covering the deliberately small scheme portfolio, the 2 February 2022 voluntary suspension of fresh subscriptions in the Parag Parikh Flexi Cap Fund when the SEBI overseas investment cap was breached, the selective scheme launch calendar from 2013 to 2026, and the comparison with prevailing industry norms of AUM-growth-maximisation among large Indian asset managers.
- PPFAS stance on derivatives, futures and options
Encyclopedic reference on the deliberate stance at PPFAS Mutual Fund against the use of directional futures and options in equity-oriented schemes. Covers the rationale in the value-investing ownership orientation, the contrast with derivative-based strategies at peer funds, the operational exception for the Parag Parikh Arbitrage Fund where cash-and-futures arbitrage is the explicit strategy, and the limited hedging-only use case in other schemes. Explains the philosophical foundation and the documented application across the Parag Parikh Flexi Cap Fund and other schemes.
- PPFAS Sponsor Commitment and Skin in the Game
Encyclopedic reference on the sponsor commitment of Parag Parikh Financial Advisory Services Limited (PPFAS Ltd) to PPFAS Mutual Fund, the regulatory minimum under SEBI (Mutual Funds) Regulations 1996, the Parikh family's personal capital invested in PPFAS schemes, the disclosure of these holdings in monthly factsheets and the Annual Unitholders' Meet, and the structural alignment of fund-house economics with unit-holder outcomes that distinguishes PPFAS from larger Indian asset managers.