Cognito Portfolio Management Service (PPFAS)

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Cognito Portfolio Management Service, commonly referred to as the Cognito PMS, is the SEBI-registered discretionary Portfolio Management Service launched in October 1996 by Parag Parikh Financial Advisory Services Limited (PPFAS Ltd). Cognito is the strategic predecessor of the PPFAS mutual fund business: it served as the principal vehicle for Parag Parikh ’s value-investing and behavioural-finance practice from October 1996 until the 24 May 2013 launch of Parag Parikh Long Term Value Fund (PPLTVF, the predecessor name of PPFCF). Cognito remains operational under PPFAS Ltd for legacy clients but has been closed to new clients for over a decade, with the PPFAS Mutual Fund AMC’s mutual-fund-scheme suite being the principal current vehicle for PPFAS investment management.

History of PPFAS (1979 to present)

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The history of PPFAS spans more than four and a half decades, from the 1979 founding of a Mumbai-based stock-broking and advisory practice by Parag Parikh at the age of twenty-five, through the 1992 incorporation of the practice as Parag Parikh Financial Advisory Services Limited , the 1996 launch of the Cognito discretionary Portfolio Management Service , the 2011 incorporation of PPFAS Asset Management Private Limited , the 2012 set-up of the mutual fund trust, the 2013 launch of the Parag Parikh Long Term Value Fund (subsequently renamed twice and now the Parag Parikh Flexi Cap Fund ), the watershed of the founder’s death in May 2015, the succession of Neil Parag Parikh as Chairman and CEO, and the subsequent expansion of the scheme range to seven active funds by February 2026. In May 2025 the flagship became the first actively managed equity scheme in India to cross Rs 1 lakh crore in AUM.

PPFAS History on WebNotes

Cognito Portfolio Management Service (PPFAS)

History of PPFAS (1979 to present)