PPFAS office and team structure

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The office and team structure of PPFAS Mutual Fund, formally PPFAS Asset Management Private Limited acting as the investment manager for PPFAS Mutual Fund, comprises a single headquarters office in Mumbai supplemented by a network of Investor Service Centres in thirteen Indian cities, with a compact senior team that has remained substantially continuous through the post-2015 succession from founder Parag Parikh to his son Neil Parag Parikh as Chairman and CEO. The team scale is materially smaller than the personnel counts at the largest Indian asset managers, consistent with the broader boutique AMC positioning of the firm, but is sufficient to manage the seven active schemes that the AMC operates as of 2026.

This article describes the corporate office at Sakhar Bhavan in Nariman Point Mumbai, the Investor Service Centre network including the recent Borivali (West) expansion in February 2026, the senior fund management and operations team, the functional organisation of the AMC across fund management, research, operations, compliance, investor service and technology, and the continuity of the team through the post-2015 leadership transition.

Corporate office at Sakhar Bhavan

The registered and corporate office of PPFAS Asset Management Private Limited is located at:

81/82, 8th Floor, Sakhar Bhavan, Ramnath Goenka Marg, 230, Nariman Point, Mumbai 400 021

The office was occupied with effect from 14 August 2017, following the AMC’s relocation from its earlier premises at the PPFAS Ltd corporate office at Great Western Building, 130/132 Shahid Bhagat Singh Marg, near Lion Gate, Fort, Mumbai 400 001. The earlier address remained in use for PPFAS Ltd operations while the AMC consolidated its activities at the new Nariman Point premises.

Sakhar Bhavan is a commercial high-rise building in the Nariman Point financial district of South Mumbai. The Nariman Point address is consistent with the location preferences of many established Indian financial institutions, including major banks, brokerages and asset managers. The choice of Nariman Point over the more recently developed Bandra Kurla Complex (BKC) financial centre reflects the AMC’s preference for an established South Mumbai address with proximity to the SEBI Head Office at Mittal Court (also Nariman Point), the BSE building at Dalal Street, and the older financial-district network of supporting professional services.

The 8th floor premises at Sakhar Bhavan house the AMC’s fund management team, research team, operations and compliance, investor service, technology and administration. The Mumbai office is also the location of the Annual Unitholders’ Meet planning and the production of the monthly long-form factsheet. Investor Service activities at the Mumbai location operate under the broader Investor Service Centre framework that applies across all PPFAS branch locations.

The AMC contact details published on the AMFI member page and on amc.ppfas.com are:

Investor Service Centre network

PPFAS operates a network of thirteen Investor Service Centres (ISCs) across India, each registered as an Official Point of Acceptance for subscription and redemption transactions in PPFAS schemes. The ISCs serve as in-person service points for unit-holders who prefer to interact with the AMC directly rather than through CAMS (the AMC’s Registrar and Transfer Agent) branch offices, aggregator platforms or the SelfInvest portal.

The ISC cities, as of February 2026, are:

  • Mumbai (headquarters at Sakhar Bhavan, Nariman Point)
  • Mumbai Fort (legacy PPFAS Ltd location)
  • Mumbai Borivali (West) (registered 19 February 2026)
  • New Delhi
  • Bengaluru
  • Chennai
  • Kolkata
  • Pune
  • Hyderabad
  • Additional ISC locations as listed on amc.ppfas.com/investor-desk/investor-service-centres/

The Mumbai Borivali (West) ISC, registered on 19 February 2026, was the AMC’s first ISC in the western suburbs of Mumbai. The launch was reported by Tribune India and reflected the AMC’s response to growing retail unit-holder demand in the Mumbai metropolitan region. The Borivali location complements the existing Fort and Nariman Point locations in serving the broader Mumbai unit-holder base.

The ISC network is dramatically smaller than the branch networks at the largest Indian AMCs, which may operate ISCs in over a hundred cities, often co-located with parent-bank branch networks. The PPFAS approach to ISC network expansion is deliberate and incremental, reflecting the AMC’s stance on not investing aggressively in distribution infrastructure. The compact ISC network is supported by the broader CAMS network of branch offices across India, which serve as alternative service points for PPFAS unit-holders since CAMS is the AMC’s Registrar and Transfer Agent.

The contextual framework for the AMC’s distribution strategy, including the in-house SelfInvest portal, the integration with MFU and MF Central, and the relationships with third-party platforms is discussed in the reference on the PPFAS distributor channel history.

Senior leadership

The senior leadership of PPFAS Asset Management Private Limited as of 2026 includes:

Board of Directors

The Board of Directors of the AMC, as identified in public sources including amc.ppfas.com/about-us/board-of-directors/, comprises:

  • Neil Parag Parikh, Chairman and CEO
  • Rajeev Thakkar, Director and Chief Investment Officer (Equity)
  • V. Ramesh, Independent Director
  • Subrata Kumar Mitra, Independent Director
  • Raman Haren Jokhakar, Independent Director
  • Sonal Dave, Independent Director

The composition of the Board, with a majority of independent directors and the founder family represented through Neil Parikh, reflects the SEBI MF Regulations requirement for independent representation and the PPFAS group structure of founder-family-controlled but independently-governed asset management.

Trustee Company Board

The Board of PPFAS Trustee Company Private Limited, per the FY 2019-20 Annual Report, comprised:

  • P. A. Balasubramanian
  • Rajan Mehta
  • Dhaval Desai
  • Suneel Gautam

The Trustee Company Board is responsible for safeguarding the interests of unit-holders, monitoring the AMC’s compliance with the SEBI MF Regulations, and approving the SEBI MF half-yearly trustee report and other regulatory filings. The Board operates independently of the AMC and reports directly to unit-holders through the annual report.

Compliance and Investor Service

  • Compliance Officer: Priya Hariani
  • Investor Service Officer: Aalok Mehta

The Compliance Officer is responsible for the AMC’s compliance with SEBI regulations, AMFI best practice guidelines, the SEBI MF compliance audit, and internal compliance policies including voting policy, conflict of interest management and risk-mitigation. The Investor Service Officer is the designated point of contact for unit-holder grievances and SEBI’s SCORES portal redressal mechanism.

Fund management team

The fund management team at PPFAS as of 2026 comprises:

CIO and equity managers

  • Rajeev Thakkar, Chief Investment Officer (Equity) and Director. Education: B.Com (University of Bombay), Chartered Accountant (ICAI), Cost Accountant, CFA Charterholder. Began career 1994; joined PPFAS Ltd 2001; appointed Fund Manager 2003 for the Cognito PMS; CEO of PPFAS Ltd from 2007 to 2012; instrumental in launching the Parag Parikh Long Term Value Fund in May 2013 and continues to manage the flagship.
  • Raunak Onkar, Head of Research and co-fund manager. Education: BSc Information Technology and MMS (Finance), University of Mumbai. Joined PPFAS in 2008 as a Research intern; co-manager of the flagship since launch in May 2013.
  • Rukun Tarachandani, Executive Vice President and Fund Manager (Equity). Education: B.Tech (Information Technology), PGPM (Finance), CFA, CQF. Joined PPFAS in March 2021 as VP, Research; previously at Goldman Sachs Global Investment Research and Kotak Mahindra AMC.

Debt managers

  • Raj Mehta, Executive Vice President and Fund Manager (Debt). Education: B.Com (N.M. College, University of Mumbai), Fellow Member of ICAI, CFA Charterholder. Joined PPFAS in 2012 as an intern; progressed to analyst and Fund Manager.
  • Mansi Kariya, Co-Fund Manager (Debt). Education: B.Com (Hons) Calcutta University, MS Finance ICFAI, CFA. Joined PPFAS in 2018 as a Debt Dealer; advanced through Credit Research Analyst to Co-Fund Manager (Debt).
  • Tejas Soman, Fund Manager (Debt). Previously Fund Manager at SBI Funds Management Limited; also Yes Bank primary dealership unit, STCI Primary Dealership and PwC tax and regulatory advisory.
  • Aishwarya Dhar, Fund Manager (Debt). Started September 2012 at Tata AIA Life Insurance; joined PPFAS in March 2021 as Debt Dealer; promoted to Fund Manager (Debt).

Scheme-wise fund management responsibilities

The team-based fund management approach, with multiple co-managers across the scheme range, is a structural feature of PPFAS that contributes to continuity and risk mitigation. The approach also reflects the AMC’s view that scheme management is a collaborative discipline rather than a single-manager activity.

Team size relative to peer AMCs

The compact team size at PPFAS Asset Management Private Limited is materially smaller than the personnel counts at the largest Indian AMCs. While PPFAS does not publicly disclose its total headcount in a manner directly comparable to industry-standard reporting, the public profile of the senior team suggests a fund management and research team of fewer than twenty professionals, supplemented by an operations, compliance, investor service and technology team.

The contrast with the largest AMCs is illustrative. HDFC Mutual Fund, SBI Mutual Fund, ICICI Prudential Mutual Fund and Kotak Mahindra Mutual Fund each employ hundreds of professionals across fund management, research, sales, distribution, operations and corporate functions. The team scale at the boutique AMCs in India, including Quantum Mutual Fund, Quant Mutual Fund and PPFAS, is dramatically smaller, consistent with their focused scheme range and lighter distribution footprint.

The compact team size at PPFAS is enabled by several structural factors:

  • A focused scheme range of seven active funds, reducing the management complexity per professional.
  • Outsourced services for non-core functions, including the Registrar and Transfer Agent function (handled by CAMS), the custodian function (handled by Deutsche Bank AG Mumbai) and the statutory audit function (handled by M.M. Nissim and Co. LLP).
  • A direct-plan-skewed distribution strategy that reduces the need for a large field-distribution organisation.
  • A compact ISC network of thirteen cities rather than the hundreds typical at the largest AMCs.

Functional team areas

The PPFAS AMC team is organised across the following functional areas:

Fund management and research

The fund management team is responsible for portfolio construction, security selection, position sizing, transaction execution and risk monitoring across the seven schemes. The Research team, led by Raunak Onkar as Head of Research, provides primary research on Indian and international equities, debt securities and portfolio strategies. Coverage spans sectors including Technology, Financial Services, Healthcare, Consumer, Industrials and Energy, with specific sector ownership by individual analysts.

Operations

The Operations team handles fund accounting, NAV computation, trade settlement, regulatory filings, factsheet production and the interface with CAMS, the custodian and the auditor. The Operations team also coordinates with the Trustee Company on quarterly and annual reporting.

Compliance

The Compliance function, headed by the Compliance Officer Priya Hariani, manages SEBI regulatory compliance, AMFI best-practice adherence, the SEBI MF compliance audit, voting policy implementation and the conflict-of-interest management framework.

Investor service

The Investor Service team, headed by the Investor Service Officer Aalok Mehta, manages unit-holder communication, grievance redressal, SCORES portal responses and the ISC network. The team also coordinates with CAMS, MFU and MF Central on transaction processing and statement generation.

Technology

The Technology team supports the SelfInvest web and mobile portal, the PPFAS CashFlex companion app for Liquid and Arbitrage Fund investments (launched 21 June 2024), the AMC’s website at amc.ppfas.com, the AMFI integrations, and the data infrastructure underpinning portfolio management and reporting.

Continuity post-2015

The death of founder Parag Parikh on 3 May 2015 in a road accident in Omaha, Nebraska, was a profound discontinuity for PPFAS. The succession of Neil Parag Parikh as Chairman and CEO, the continued leadership of Rajeev Thakkar as CIO for Equity, and the continued involvement of Raunak Onkar as Head of Research provided the operational continuity that allowed the AMC to retain unit-holder confidence through the transition.

In the subsequent decade, the team has expanded with additions including Raj Mehta (Fund Manager Debt), Rukun Tarachandani (Fund Manager Equity, joined March 2021), Mansi Kariya (Co-Fund Manager Debt), Tejas Soman (Fund Manager Debt) and Aishwarya Dhar (Fund Manager Debt). The growth of the fund management team reflects the expansion of the scheme range from a single equity scheme in 2013 to seven active schemes by 2026 and the corresponding need for specialised expertise across equity, debt and hybrid mandates.

The continuity of the team is itself a structural feature of the AMC. The senior personnel typically have long tenures at PPFAS, with Rajeev Thakkar having been with the firm since 2001, Raunak Onkar since 2008 and Raj Mehta since 2012. The pattern of long-tenured senior personnel is consistent with the boutique AMC profile and contributes to the consistency of investment doctrine and operational culture.

Recent developments

The February 2026 launch of the Parag Parikh Large Cap Fund was accompanied by the expansion of the fund management team for the new scheme to include Tejas Soman and Aishwarya Dhar in addition to the existing equity and debt managers, bringing the total team size for the Large Cap Fund to six co-managers. The expansion reflects the AMC’s view that the Large Cap Fund’s broad-based strategy benefits from team-based management.

The 19 February 2026 registration of the Borivali (West) ISC expanded the AMC’s branch network to thirteen cities, the first ISC in the western suburbs of Mumbai. The April 2026 PPFCF AUM milestone of Rs 1.4 lakh crore and the May 2026 milestone of Rs 1.6 lakh crore have not been accompanied by corresponding expansion in headcount, consistent with the AMC’s stance on not chasing AUM and its preference for a compact, focused team.

The 22 November 2025 12th Annual Unitholders’ Meet at Birla Matushree Sabhaghar in Mumbai featured the entire senior fund management team in direct interaction with unit-holders, an arrangement that reinforces the AMC’s emphasis on transparency and the personal accessibility of its principals.

See also

External references

References

  1. PPFAS Asset Management Private Limited, “Our Company”, retrieved May 2026.
  2. AMFI, member page for PPFAS Mutual Fund (Member ID 64).
  3. AMFI Statement of Additional Information for PPFAS Mutual Fund.
  4. Tribune India, “PPFAS Mutual Fund opens new branch in Borivali West”, February 2026.
  5. PPFAS Trustee Company Private Limited, Annual Report FY 2019-20.
  6. AlphaStreet, “Interview with Rukun Tarachandani, Domestic Equity Fund Manager, PPFAS Mutual Fund”.
  7. ValueResearch, “Mansi Kariya appointment as Co-Fund Manager, Debt”.
  8. PPFAS AMC scheme information documents for all seven schemes.
  9. AdvisorKhoj, “PPFAS Mutual Fund offices”.
  10. PPFAS AMC monthly factsheets.

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