Guides
A growing collection of how-to guides and reference notes.
- PPFAS Direct vs Regular Plan
Encyclopedic reference on the structural and economic differences between the Direct Plan and the Regular Plan for each of the seven active schemes of PPFAS Mutual Fund, including the total expense ratio differential of approximately 69 basis points between the Direct Plan (around 0.63 per cent) and the Regular Plan (around 1.32 per cent) of Parag Parikh Flexi Cap Fund, the identical minimum and additional investment amounts across plans, the distribution-channel differences with direct routed through SelfInvest and aggregator platforms versus regular routed through AMFI-ARN distributors and bank-affiliated channels, the equivalent capital gains tax treatment, the long-term-compounding investor implications and the per-scheme TER snapshot.
- PPFAS customer service and grievance redressal
Encyclopedic reference on PPFAS Mutual Fund customer service and grievance redressal framework. Covers the toll-free customer support at 1800 266 7790, the email channel at mf@ppfas.com, the Investor Service Officer (Aalok Mehta) accountability, the Compliance Officer (Priya Hariani) escalation channel, the SCORES (SEBI Complaints Redress System) integration for unresolved grievances, the Online Dispute Resolution (ODR) framework launched in 2023, the AMFI investor grievance matrix integration, the Investor Service Centre physical network across 13 cities, the SEBI-prescribed grievance resolution timelines, and the role within the broader Indian mutual fund investor-protection framework.
- PPFAS custodian, RTA and auditor relationships
Encyclopedic reference on the third-party service providers retained by PPFAS Mutual Fund, covering Deutsche Bank AG Mumbai branch as custodian, Computer Age Management Services (CAMS) as the Registrar and Transfer Agent, M.M. Nissim and Co. LLP as the statutory auditor, the operational integration of these relationships with the AMC's seven active schemes, and the comparison with industry-typical arrangements at peer asset managers.
- PPFAS branch and Investor Service Centre locations
Encyclopedic reference on PPFAS Mutual Fund Investor Service Centre (ISC) and branch locations across India. Covers the Mumbai headquarters at Sakhar Bhavan in Nariman Point (shifted with effect from 14 August 2017), the Mumbai branches in Fort and Borivali, the major-city branches in New Delhi, Bengaluru, Chennai, Kolkata, Pune, Hyderabad, and other cities, the approximately 13-city presence as of 2026, the Borivali (West) ISC opening on 19 February 2026, the role of ISCs in the broader PPFAS investor-service framework, and the comparison with peer AMC branch networks.
- PPFAS Asset Management Private Limited
Encyclopedic reference on PPFAS Asset Management Private Limited (PPFAS AMC), the SEBI-registered asset management company that operates PPFAS Mutual Fund. Covers the 8 August 2011 incorporation under the Companies Act 1956, the registered and corporate office at Sakhar Bhavan in Nariman Point Mumbai (shifted with effect from 14 August 2017), the SEBI AMC registration framework, the AMC's board of directors and management team, the operational infrastructure including the custody and RTA arrangements (Deutsche Bank as custodian, CAMS as RTA, MM Nissim and Co LLP as statutory auditor), the relationship with sponsor Parag Parikh Financial Advisory Services Limited and trustee PPFAS Trustee Company Private Limited, the AMFI Member registration number 64, and the corporate-governance and operational-compliance framework.
- PPFAS approach to small-cap and micro-cap allocation
Encyclopedic reference on the PPFAS Mutual Fund approach to small-cap and micro-cap equity allocation. Covers the Flexi Cap regulatory framework that permits but does not require small-cap exposure, the structural limits imposed on small-cap participation by the focused-portfolio approach, the AUM-scale liquidity constraints on small-cap position-sizing at the Parag Parikh Flexi Cap Fund, the quality-and-margin-of-safety filters that reduce the small-cap candidate universe and the operational evolution of small-cap exposure at PPFCF through multiple market cycles.
- PPFAS approach to IPOs and new listings
Encyclopedic reference on the PPFAS Mutual Fund approach to initial public offerings (IPOs) and new equity listings. Covers the cautious overall stance toward IPO speculation, the preference for established public-market track records over recent listings, the deliberate avoidance of grey-market premium-driven positioning, the periodic IPO participation where the value-investing framework is satisfied, and the operational evolution of the IPO approach at the Parag Parikh Flexi Cap Fund through multiple capital-market cycles.
- PPFAS approach to GIFT City and overseas-investing structures
Encyclopedic reference on the PPFAS approach to GIFT City IFSC (International Financial Services Centres Authority) and overseas-investing structures beyond the SEBI overseas-investment-cap-constrained PPFCF allocation. Covers the PPFAS Ltd partner-level exploration of GIFT City Fund-of-Fund products including S&P 500 and Nasdaq 100 feeders via Vested Finance partnership, the structural separation of GIFT City offerings from the PPFAS Mutual Fund schemes, the rationale for the PPFAS Ltd / partner level positioning rather than within the AMC schemes, and the alternative-jurisdiction context for the broader Indian retail-investor international-exposure ecosystem.
- PPFAS approach to corporate governance
Encyclopedic reference on the PPFAS Mutual Fund approach to corporate governance of portfolio companies. Covers the voting policy framework disclosed in the Statement of Additional Information, the engagement with portfolio companies through Annual General Meetings (AGMs), the management-quality assessment framework within the broader investment process, the proxy-voting decision-making protocol and the SEBI stewardship-code obligations applicable to PPFAS Asset Management Private Limited.
- PPFAS Annual Unitholders' Meet
Encyclopedic reference on the PPFAS Annual Unitholders' Meet, the Berkshire Hathaway annual general meeting style yearly open meeting held by PPFAS Mutual Fund where unitholders meet the fund team in person and ask direct questions on holdings, philosophy and strategy. Covers the meet's history, the 12th edition on 22 November 2025 at Birla Matushree Sabhaghar Marine Lines Mumbai, the livestream on the PPFAS YouTube channel, and the Neil Parikh, Rajeev Thakkar and Raunak Onkar presentation and question-and-answer format.
- PPFAS annual letter to unitholders tradition
Encyclopedic reference on the PPFAS Mutual Fund annual letter to unitholders tradition. Covers the Buffett-style annual letter from Chairman and Chief Executive Officer Neil Parikh published at amc.ppfas.com/about-us/letter-from-neil-parikh/, the structural comparison with the broader Indian mutual fund industry annual-report-only disclosure standards, the substantive content covering Asset Management Company strategy, philosophy continuity, market-environment reflection and unitholder-engagement themes, and the operational evolution of the letter tradition from the post-2015 succession period through to the 2026 PPFAS AUM scale.
- PPFAS AMC board of directors
Encyclopedic reference on the Board of Directors of PPFAS Asset Management Private Limited, the AMC of PPFAS Mutual Fund. Covers the board composition under the SEBI Mutual Funds Regulations 1996 requirement that at least two-thirds of the directors be independent of the sponsor, the current and historical directors including executive directors Neil Parag Parikh (Chairman and CEO) and Rajeev Thakkar (CIO and Director) and independent directors V. Ramesh, Subrata Kumar Mitra, Raman Haren Jokhakar, and Sonal Dave, the board governance framework, the AMC board's role in approval of material AMC operational decisions, and the comparison with peer AMC board structures.
- Power Grid Corporation at PPFCF
Power Grid Corporation of India Limited has become a top-three equity holding of the Parag Parikh Flexi Cap Fund (PPFCF), at 6.99 per cent of net assets in the April 2026 factsheet. The position illustrates the PPFAS contrarian-investing doctrine applied to public-sector undertakings, anchored in the regulated-monopoly nature of inter-state electricity transmission and disciplined valuation entry. This article documents the thesis, the position history and the comparison with peer holdings.
- Persistent Systems at PPFCF
Persistent Systems Limited has been a periodic mid-cap IT holding of the Parag Parikh Flexi Cap Fund (PPFCF). The position reflects the PPFAS thesis on engineering-services and platform-engineering exposure, with disciplined valuation-driven entry. This article documents the thesis, the position history and the comparison with peer holdings.
- Permanent Account Number
Encyclopedic reference on the Permanent Account Number (PAN): the 10-character alphanumeric identifier issued by the Indian Income Tax Department, its structure, statutory basis under Section 139A of the Income Tax Act, 1961, Aadhaar linkage requirement, role in financial transactions, and operational application across tax, banking, demat, mutual fund, and capital markets.
- Passive investing wave in India
Encyclopedic reference on the post-2018 structural shift toward index funds and ETFs in India: pre-history from 2002 Benchmark Nifty BeES, the 2015 EPFO equity-ETF mandate, SPIVA India performance data, 2017 categorisation impact, AUM trajectory from approximately Rs 1.5 lakh crore to Rs 12 lakh crore, MF Lite framework, and post-2024 developments.
- Parag Parikh's Columns and Writings (Archive)
Encyclopedic reference on the archive of columns and writings by Parag Parikh, founder of PPFAS Mutual Fund, principally his Business Standard columns, DNA columns, Economic Times appearances and serialised material that fed into his books Stocks to Riches (2005) and Value Investing and Behavioral Finance (2009). Covers the column topics, chronological span, publication venues and the role of the columns in shaping the Indian value-investing and behavioural-finance literature.
- Parag Parikh Liquid Fund Tax Treatment
Encyclopedic reference on the tax treatment of the Parag Parikh Liquid Fund. Covers the debt-oriented mutual fund tax framework, the Finance Act 2023 introduction of Section 50AA and the elimination of long-term capital gains indexation for new investments effective 1 April 2023, the slab-rate taxation that applies to redemptions regardless of holding period, and the comparison with the equity-equivalent tax treatment of arbitrage funds under Section 112A and Section 111A.
- Parag Parikh Liquid Fund
Encyclopedic reference on the Parag Parikh Liquid Fund, the open-ended liquid scheme of PPFAS Mutual Fund launched on 9 May 2018, benchmarked to the CRISIL Liquid Debt B-I Index and managed by Tejas Soman, Aishwarya Dhar and Mansi Kariya. Covers the scheme's launch context as the second product of PPFAS Asset Management after the flagship Parag Parikh Flexi Cap Fund, the conservative money-market mandate, the instant-redemption framework, the T+1 settlement cycle, the tax treatment under the post-2023 debt fund regime, and the role of the scheme in the broader PPFAS scheme suite.
- Parag Parikh Large Cap Fund
Encyclopedic reference on the Parag Parikh Large Cap Fund (PPLCF), the open-ended large cap scheme of PPFAS Mutual Fund launched on 4 February 2026 (allotment) following a 19 to 30 January 2026 NFO and continuous-offer reopen on 6 February 2026. Covers the semi-passive construction with active overlay through the AMC's proprietary Smart Execution Strategies, the Nifty 100 Total Return Index benchmark, the six-fund-manager structure of Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, Tejas Soman and Aishwarya Dhar, and comparison with Nifty 100 index funds and active large-cap mutual funds.
- Parag Parikh Flexi Cap Fund
Encyclopedic reference on the Parag Parikh Flexi Cap Fund (PPFCF), the flagship equity scheme of PPFAS Mutual Fund. Covers the 24 May 2013 launch as Parag Parikh Long Term Value Fund (PPLTVF), the two subsequent renames (PPLTVF to PPLTEF on 16 February 2018 under SEBI scheme categorisation, then PPLTEF to PPFCF on 13 January 2021 under the new Flexi Cap category), the structural investment mandate including up to 35 per cent overseas equity exposure and 65 per cent minimum Indian equity threshold, the focused portfolio of 25 to 37 stocks, the lead fund management by Rajeev Thakkar (CIO) since launch with Raunak Onkar (Head of Research) and Raj Mehta (debt overseas) as co-managers, the May 2025 crossing of Rs 1 lakh crore AUM as India's first actively managed equity mutual fund to reach the milestone, the February 2022 to June 2022 SEBI overseas-investment cap suspension cycle, the Nifty 500 TRI benchmark, the comparison with peer flexi-cap schemes, and the role as the central retail-investor equity reference within the broader PPFAS Mutual Fund ecosystem.
- Parag Parikh Financial Advisory Services Limited
Encyclopedic reference on Parag Parikh Financial Advisory Services Limited (PPFAS Ltd), the original 1979-founded broking and advisory firm incorporated on 12 December 1992 (CIN U67190MH1992PLC068970) that serves as the sponsor of PPFAS Mutual Fund. Covers the firm's founding by Parag Parikh at age 25, the 1992 incorporation under the Companies Act 1956, the October 1996 launch of the Cognito Portfolio Management Service, the company's role as sponsor of PPFAS Asset Management Private Limited (incorporated August 2011) and PPFAS Mutual Fund (set up October 2012), the structural skin-in-the-game commitment that the family-controlled sponsor entity has historically maintained in the AMC schemes, the company's continuing operation as a SEBI-registered intermediary alongside the AMC business, and the corporate-governance and ownership-structure context for the broader PPFAS group.
- Parag Parikh family and Neil's accession
Encyclopedic reference on the Parag Parikh family within PPFAS Mutual Fund, the founder Parag Parikh (1954 to 3 May 2015), his wife Geeta Parikh (severely injured in and surviving the May 2015 Omaha road accident), their son Neil Parag Parikh (the Chairman and Chief Executive Officer of PPFAS Asset Management Private Limited since 2015), and the smooth founder-to-second-generation accession that followed the founder's death. Covers the structural family-business succession framework, the continued substantial Parikh family investment in PPFAS schemes, the preservation of investment-philosophy continuity through the transition, and the comparison with other family-business successions in the broader Indian financial-services industry.
- Parag Parikh ELSS vs Axis, Mirae and Quant ELSS
A factual comparison of the Parag Parikh ELSS Tax Saver Fund with peer Equity Linked Savings Schemes from Axis Mutual Fund, Mirae Asset Mutual Fund and Quant Mutual Fund, covering the three-year lock-in regime, Section 80C tax deduction, investment approach, international allocation in PP ELSS, performance comparison, expense ratios, and tax efficiency.
- Parag Parikh ELSS Tax Saver Fund and Section 80C Eligibility
Encyclopedic reference on the Section 80C eligibility of the Parag Parikh ELSS Tax Saver Fund. Covers the three-year statutory lock-in, the up-to Rs 1.5 lakh annual deduction under Section 80C, the Equity Linked Savings Scheme framework under the Income-tax Act and the SEBI Mutual Funds Regulations 1996, the comparison with the National Pension System, Public Provident Fund, and unit linked insurance plans, and the long-term capital gains treatment under Section 112A on redemption after the lock-in expiry.
- Parag Parikh ELSS Tax Saver Fund
Encyclopedic reference on the Parag Parikh ELSS Tax Saver Fund, the open-ended equity-linked savings scheme of PPFAS Mutual Fund launched on 4 July 2019 originally as the Parag Parikh Tax Saver Fund. Covers the three-year statutory lock-in, Section 80C deductibility up to Rs 1.5 lakh, the Nifty 500 Total Return Index benchmark, the AUM growth to approximately Rs 5,260 crore by April 2026, the value-investing portfolio overlap with the flagship Parag Parikh Flexi Cap Fund, the equity-oriented tax treatment under Section 112A, and comparison with peer ELSS schemes and tax-saving alternatives.
- Parag Parikh Dynamic Asset Allocation Fund
Encyclopedic reference on the Parag Parikh Dynamic Asset Allocation Fund (PPDAAF), the open-ended balanced advantage scheme of PPFAS Mutual Fund launched on 22 February 2024 after a 20 to 22 February 2024 NFO. Covers the balanced advantage fund framework, the dynamic equity-debt allocation rules, the CRISIL Hybrid 50+50 Moderate Index benchmark, the absence of an overseas allocation mandate distinguishing it from the flagship Parag Parikh Flexi Cap Fund, the five-fund-manager structure of Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani and Mansi Kariya, and comparison with peer balanced advantage funds from HDFC, ICICI Prudential and Edelweiss.
- Parag Parikh Conservative Hybrid Fund Taxation
Encyclopedic reference on the taxation of the Parag Parikh Conservative Hybrid Fund. Covers the hybrid scheme tax treatment based on equity-versus-debt allocation, the 10 to 25 per cent equity allocation mandate under the SEBI conservative hybrid fund category, the predominantly debt classification under Section 50AA, the pre- and post-Finance Act 2023 framework differences, and the operational consequences of the debt-fund tax regime for hybrid-fund investors.
- Parag Parikh Conservative Hybrid Fund
Encyclopedic reference on the Parag Parikh Conservative Hybrid Fund, the open-ended conservative hybrid scheme of PPFAS Mutual Fund launched on 28 May 2021 after a 7 to 21 May 2021 NFO. Covers the SEBI conservative hybrid category framework of 10 to 25 per cent equity allocation with the balance in debt, the CRISIL Hybrid 85+15 Conservative Index TRI benchmark, the joint fund management by Rajeev Thakkar, Raunak Onkar and Raj Mehta, the impact of the April 2023 debt fund taxation regime change on hybrid scheme tax treatment, and the role of the scheme as the conservative-allocation product in the PPFAS scheme suite.
- Parag Parikh Arbitrage Fund Taxation
Encyclopedic reference on the taxation of the Parag Parikh Arbitrage Fund. Covers the equity-equivalent tax treatment despite low net equity risk, the Section 112A long-term capital gains rate of 12.5 per cent above the Rs 1.25 lakh annual exemption, the Section 111A short-term capital gains rate of 20 per cent, the Securities Transaction Tax paid through cash-futures arbitrage transactions, and the comparison with the Parag Parikh Liquid Fund under the post-Finance-Act-2023 Section 50AA slab-rate regime.