To comply with the SEBI norms, PPFAS Mutual Fund has converted its multicap fund Parag Parikh Long Term Equity Fund into flexicap fund. With this, the new name of the fund is Parag Parikh Flexi Cap Fund.
Neil Parag Parikh, Chairman and CEO, PPFAS Mutual Fund, said, "Complying with the regulation and after all the necessary approvals the required changes will be effective in our flagship scheme. However, there is no change in our portfolio, investment process. We will continue to manage the money the way we have been managing. A flexicap strategy will allow the fund manager to invest wherever value and opportunities are available without restrictions”.
As on November 2020, the scheme manages assets of Rs.5757 crore. Since inception, the fund has given 17.60 % CAGR.
