PPFAS Mutual Fund PPFAS SID PPFAS SAI PPFAS KIM monthly portfolio disclosure voting policy half-yearly trustee report annual report SEBI compliance audit AMFI reporting

PPFAS Regulatory Filings and Disclosures

From WebNotes, a public knowledge base. Last updated 16 May 2026. Reading time ~22 min.

The regulatory filings and disclosures of PPFAS Mutual Fund denote the comprehensive set of statutory, voluntary and self-regulatory disclosures published by PPFAS Asset Management Private Limited and PPFAS Trustee Company Private Limited under the SEBI Mutual Funds Regulations, 1996 and the SEBI Disclosure Requirements for Mutual Funds. The disclosure regime is supplemented by AMFI industry-wide best-practice guidelines and by the AMC’s own voluntary investor-communication standards.

The principal documents fall into six categories: (i) the Statement of Additional Information (SAI) and the Scheme Information Document (SID) with its Key Information Memorandum (KIM) appendix, governing the legal terms of each scheme; (ii) the monthly portfolio disclosure required by SEBI’s October 2018 monthly-disclosure circular; (iii) the voting policy and stewardship disclosure under the SEBI Stewardship Code; (iv) the half-yearly trustee report filed by the trustee company; (v) the annual report of the mutual fund (trust) and of the AMC and Trustee Company separately; and (vi) the SEBI MF compliance audit and AMFI reporting obligations.

Together these disclosures cover all seven active schemes of the AMC: Parag Parikh Flexi Cap Fund , Parag Parikh Liquid Fund , Parag Parikh ELSS Tax Saver Fund , Parag Parikh Conservative Hybrid Fund , Parag Parikh Arbitrage Fund , Parag Parikh Dynamic Asset Allocation Fund and Parag Parikh Large Cap Fund . All documents are made available on the AMC’s official website at amc.ppfas.com and through the AMFI document portal.

Statement of Additional Information (SAI)

The Statement of Additional Information (SAI) is the principal disclosure document at the mutual-fund-trust level. The SAI sets out the constitution of the mutual fund, the legal status as a Trust under the Indian Trusts Act, 1882, the names and roles of the sponsor (PPFAS Limited ), the trustee (PPFAS Trustee Company ) and the investment manager (PPFAS AMC ), the trustee company board, the AMC board and its board independence composition , the operational arrangements with the custodian Deutsche Bank AG, the registrar CAMS , the auditor M/s. M. M. Nissim and Co. LLP, and the tax treatment of mutual fund schemes in India.

The PPFAS SAI is filed with SEBI under the prescribed format and is hosted at the AMFI SAI portal . The SAI is updated annually and on a material-change basis to reflect changes in board composition, service-provider appointments and statutory framework. The most recent material update incorporated:

Sponsor commitment renewal and updated capital commitments
Updated board lists for the AMC and the Trustee Company
Updated officer designations including the Compliance Officer (Priya Hariani) and Investor Service Officer (Aalok Mehta)
Updated office address at Sakhar Bhavan, Nariman Point, Mumbai 400 021 (effective 14 August 2017)
Addition of new schemes since the previous SAI (most recently Parag Parikh Large Cap Fund )

Scheme Information Document (SID) and Key Information Memorandum (KIM)

For each of the seven active schemes, a separate Scheme Information Document (SID) is filed with SEBI under the prescribed format. The SID sets out the legal name, the SEBI category, the investment objective, the asset-allocation pattern, the minimum and additional investment amounts, the exit-load structure (covered separately at PPFAS exit-load structure ), the total expense ratio framework (covered at PPFAS TER history per scheme ), the names of the fund managers, the benchmark , the risk factors and the scheme risk-o-meter at the time of filing.

The Key Information Memorandum (KIM) is the short-form summary of the SID, typically 8 to 12 pages, intended to be the document provided to retail investors at the point of sale and as the appendix to physical application forms. The KIM is updated annually and on a material-change basis. For example, the KIM of Parag Parikh Large Cap Fund was published in January 2026 ahead of the 19 January to 30 January 2026 NFO.

The current SIDs and KIMs for the seven schemes are hosted on the AMC website under the scheme-specific pages:

The SID and KIM filing framework follows the SEBI scheme rationalisation circular 2017 for category classification.

Monthly portfolio disclosure

Under SEBI’s October 2018 disclosure framework, every AMC is required to publish the full portfolio holdings of each open-ended mutual fund scheme by the tenth working day of the following month. PPFAS publishes the monthly portfolio for each of the seven schemes at amc.ppfas.com/schemes/portfolio-disclosure/ in PDF and tabular format.

The monthly portfolio disclosure includes for each holding:

ISIN code
Issuer name
Industry / sector
Quantity held
Market value
Percentage of net assets

The portfolio disclosure is accompanied by the monthly factsheet at amc.ppfas.com/downloads/factsheet/ , which adds long-form commentary by Rajeev Thakkar (CIO) and Neil Parikh (CEO) on portfolio positioning, market conditions and management views, alongside the standardised performance, risk and AUM tables. The factsheet is the AMC’s principal investor-communication document and is widely read by retail investors and aggregator analysts. Detailed coverage is provided in PPFAS monthly factsheet .

The monthly portfolio is also reported to AMFI and SEBI under the prescribed industry-wide reporting framework, and is used as the source for third-party data services such as Value Research , Morningstar India , ACE MF and the AMFI NAV file (NAVAll) .

Voting policy and stewardship disclosure

PPFAS Mutual Fund operates a voting policy under the SEBI Stewardship Code applicable to Indian mutual fund schemes. The policy sets out the principles by which the AMC exercises voting rights at general meetings of investee companies on behalf of the unit-holders of the schemes. The voting policy is published at amc.ppfas.com/about-us/voting-policy/ .

The policy covers:

The framework for evaluating shareholder resolutions, including auditor appointment, director appointments and re-appointments, remuneration proposals, related-party transactions, equity issuances, capital reduction and major corporate actions.
The conflict-of-interest framework where the investee company is a sponsor-group entity, a service provider or a major investor.
The escalation and disclosure framework for cases where the AMC abstains from voting or votes against management.

The actual vote-cast disclosure is published every quarter and on an annual aggregated basis, in line with SEBI Stewardship Code Principle 6. The disclosure includes the resolution, the AMC’s vote, the rationale and the meeting date. As of FY 2025-26 the AMC published all vote-cast records for the four quarterly periods.

The stewardship engagement summary, capturing the AMC’s qualitative engagement with investee companies on matters of corporate governance, ESG and capital allocation, is published as part of the annual stewardship report.

Half-yearly trustee report and unaudited financial results

Under the SEBI MF half-yearly trustee report framework prescribed in Regulation 18(22) of the SEBI Mutual Funds Regulations, the PPFAS Trustee Company files a half-yearly trustee report with SEBI in the prescribed format. The report covers:

Compliance status with SEBI MF Regulations and the trust deed
Material observations and any remedial action taken
Performance summary of each scheme against the benchmark
Investor-grievance summary

The half-yearly unaudited financial results for each scheme are published within one month from the end of the half-year, as required by Regulation 59 of the SEBI MF Regulations. These results include the abridged balance sheet, income statement and the unitholder summary for each scheme. They are hosted on the AMC website at amc.ppfas.com/about-us/financials/ and on AMFI.

Annual report

The annual report is the principal year-end disclosure document and is published in three parts:

Mutual fund annual report: A combined document covering all seven schemes, with audited financial statements for each scheme, a board of trustees’ report, a sponsor report, an AMC report and the auditor’s report by M/s. M. M. Nissim & Co. LLP.
PPFAS AMC annual report: The audited financial statements of PPFAS Asset Management Private Limited as a corporate entity under the Companies Act, 2013.
PPFAS Trustee Company annual report: The audited financial statements of PPFAS Trustee Company Private Limited as a corporate entity. The FY 2019-20 annual report is publicly available at amc.ppfas.com/about-us/financials/trustee-company/ppfas-trustee-2019-20.pdf.

The annual report is published within four months from the end of the financial year (i.e. by 31 July for the year ended 31 March), in accordance with Regulation 56 of the SEBI MF Regulations.

SEBI MF compliance audit

The SEBI MF compliance audit is a statutory framework requiring every SEBI-registered mutual fund to undergo an annual independent compliance audit by an external firm of chartered accountants empanelled with SEBI. The audit covers compliance with the SEBI MF Regulations, the SEBI Stewardship Code, the SEBI Insider Trading Regulations, the SEBI scheme rationalisation circular 2017 , the SEBI NAV applicability rule 2021 and the SEBI cyber-security and operational-resilience framework.

The audit report is submitted to the PPFAS Trustee Company board, which reviews material observations and ensures remedial action. The audit report is also shared with SEBI under the prescribed reporting calendar.

AMFI reporting

The AMC is a member of the Association of Mutual Funds in India (AMFI) under member ID 64. AMFI reporting obligations include:

Monthly Average Assets Under Management (AAUM) disclosure: The AMC reports monthly AAUM across all its schemes to AMFI, which publishes the consolidated industry data at the AMFI monthly AUM data page. The data is used for league tables and for AMC-level aaUM rankings.
NAV file (NAVAll): The AMC reports daily NAV data to AMFI, which publishes the consolidated AMFI NAV file (NAVAll) at amfiindia.com.
Distributor remuneration disclosure: The AMC publishes annual distributor remuneration data at the AMFI portal showing payments to AMFI ARN distributors with payouts above the prescribed disclosure threshold.
AMFI advertisement code compliance: All AMC advertisements are vetted against the AMFI advertisement code .
AMFI risk-o-meter: The AMC’s scheme risk-o-meter values are reported monthly to AMFI under the AMFI risk-o-meter framework.
AMFI factsheet template: The AMC’s monthly factsheet conforms to the AMFI factsheet template including the AMFI factsheet 2024 revision changes.
AMFI investor-grievance matrix: The AMC’s grievance redressal statistics are reported under the AMFI investor grievance matrix framework.
AMFI code of ethics: The AMC subscribes to the AMFI code of ethics and the AMFI best practice guidelines .
AMFI group company classification: The AMC’s group composition is reported under the AMFI group company classification framework, primarily for transparent classification of group exposure limits.

Investor-grievance redressal disclosure

PPFAS publishes investor-grievance statistics on a half-yearly and annual basis, in line with the SEBI investor protection framework. The disclosures include:

Number of complaints received during the period
Number resolved within the prescribed turnaround time
Number pending and the age-bucket analysis
Channel-wise breakdown (direct, distributor, regulator-escalation)
Action taken on complaints relating to specific schemes

The disclosures are published at amc.ppfas.com under the investor desk and are also reported to AMFI and SEBI. The AMC’s investor service officer Aalok Mehta is the designated point of contact for grievance escalation, and unresolved grievances can be escalated to SEBI SCORES under the standard framework.

Additional disclosures

Beyond the statutory documents, the AMC voluntarily publishes a range of additional materials that materially expand the public disclosure footprint:

Annual letter from Neil Parikh: A Buffett-style annual letter from the Chairman and CEO discussing fund performance, market views and operational developments. Available at amc.ppfas.com/about-us/letter-from-neil-parikh/ .
Annual Unitholders’ Meet: A direct-engagement session held each year at Birla Matushree Sabhaghar in Mumbai and live-streamed on the PPFAS Mutual Fund YouTube channel . Detailed coverage at PPFAS annual unitholders’ meet .
Monthly factsheet long-form commentary by Rajeev Thakkar and Neil Parikh, covering portfolio positioning and market views.
Financial Opportunities Forum content published at ppfasfof.com.
PPFAS Knowledge Centre at amc.ppfas.com/knowledge-center/ .
Recorded webinars and investor education sessions posted on the AMC’s YouTube channel.

This voluntary-disclosure architecture is consistent with the AMC’s investor education programme and the founder’s pedagogical commitment.

Recent developments

The most recent regulatory-disclosure event was the publication of the KIM of Parag Parikh Large Cap Fund in January 2026 ahead of the NFO from 19 January to 30 January 2026, and the inclusion of the new scheme in the consolidated SAI and monthly factsheet from February 2026 onwards. The SID of the Large Cap Fund was filed with SEBI under the prescribed format in late 2025 following trustee approval.

The 12th annual unitholders’ meet was held on 22 November 2025 at Birla Matushree Sabhaghar in Mumbai, providing the AMC’s principal voluntary annual disclosure event.

The AMC’s compliance with the AMFI factsheet 2024 revision was effective from the May 2024 factsheet onwards, including the revised performance-presentation format, the revised risk-o-meter presentation and the revised AAUM display norms.

External references

PPFAS AMC financials hub: amc.ppfas.com/about-us/financials
PPFAS AMC voting policy: amc.ppfas.com/about-us/voting-policy
AMFI SAI portal: portal.amfiindia.com/spages/sai64.pdf
PPFAS portfolio disclosure: amc.ppfas.com/schemes/portfolio-disclosure
PPFAS factsheet hub: amc.ppfas.com/downloads/factsheet
AMFI portal: www.amfiindia.com
SEBI portal: www.sebi.gov.in

References

PPFAS AMC. “About Us: Financials.” amc.ppfas.com.
PPFAS AMC. “Schemes: Portfolio Disclosure.” amc.ppfas.com.
PPFAS AMC. “About Us: Voting Policy.” amc.ppfas.com.
PPFAS Trustee Company. “Annual Report FY 2019-20.” amc.ppfas.com.
SEBI. “Mutual Funds Regulations, 1996.” sebi.gov.in.
SEBI. “Stewardship Code for Mutual Funds and AIFs,” Circular CIR/CFD/CMD1/168/2019, December 2019.
AMFI. “Member Page: PPFAS Mutual Fund.” amfiindia.com/member/64.
AMFI. “Best Practice Guidelines and Code of Ethics.” amfiindia.com.
SEBI. “Categorisation and Rationalisation of Mutual Fund Schemes,” October 2017.
AMFI. “Factsheet Template Norms 2024 Revision.” amfiindia.com.

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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: 16 May 2026
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