To facilitate systematic transfer plan in PPFAS MF’s flagship fund PPFAS Long Term Equity Fund, PPFAS Mutual Fund today announced the launch of a new scheme ‘Parag Parikh Liquid Fund’.
The investment objective of the scheme is to generate reasonable return with lower risk and high liquidity through judicious investments in money market and debt instruments.
The scheme will invest 80-100 per cent in money market instruments including cash, repo, CPs, CDs, Treasury Bills, CBLO and government securities with maturity up to 91 days. It would further allocate 0-20 per cent in debt residual maturity up to 91 days.
Neil Parag Parikh, Chairman and CEO, PPFAS Mutual Fund said, "We have received constant feedback from our investors and partners for the need of a liquid scheme. It will enable them to transact and invest in our existing flagship equity scheme- Parag Parikh Long Term Equity Fund through STP (Systematic Transfer Plan) route”.
The minimum initial investment in the scheme is Rs. 5000 and the minimum additional purchase would be Rs.1000. Raj Mehta would manage this fund.