The scheme will reopen for continuous sale and repurchase on February 6.
The Parag Parikh Large Cap Fund will use the Nifty 100 Total Return Index (TRI) as its AMFI Tier I benchmark. This marks the seventh scheme launched by PPFAS Mutual Fund since its inception.
According to the fund house, the scheme aims to provide cost-efficient and broad-based exposure to large-cap equities. The investment approach focuses on managing trading and market impact costs while keeping the portfolio’s positioning close to the benchmark over time.
The fund intends to maintain a relatively low active share by using efficient instruments and execution strategies.
The minimum investment amount for the scheme is ₹1,000, with additional investments allowed in multiples of ₹1. The fund does not levy any entry or exit load. It will offer both Direct and Regular Plans, with Growth and Income Distribution cum Capital Withdrawal (IDCW) options.
Neil Parag Parikh, Chairman and CEO of PPFAS Mutual Fund, said many investors look for large-cap exposure that is transparent, low-cost, and consistent. He added that the fund seeks to address this demand through a focus on efficient execution and cost management, with potential benefits accruing to investors.
The fund will be managed by a team comprising Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, Tejas Soman, and Aishwarya Dhar.
Rukun Tarachandani, Executive Vice President and Fund Manager, said the scheme may use several strategies to achieve cost-efficient exposure. These include using single-stock or index futures when they trade at a discount to spot prices, engaging in merger-related arbitrage opportunities within index constituents, and adopting a phased approach to portfolio rebalancing when changes occur in the Nifty 100 index.
The scheme may also take limited opportunistic positions around corporate actions, while aiming to keep overall active share below 10%.
PPFAS Mutual Fund is sponsored by Parag Parikh Financial Advisory Services Ltd., an investment advisory firm incorporated in 1992. The asset management company is led by Neil Parag Parikh, following the late Parag S. Parikh, the firm’s founder.
