PPFAS Mutual Fund has launched Parag Parikh Conservative Hybrid Fund. The scheme aims to generate regular income through investments predominantly in debt and money market instruments. It also seeks to generate income and capital appreciation by investing a certain portion in equity and REITs/InvITs.
The performance of the scheme will be benchmarked against CRISIL Hybrid 85+15 – Conservative Index TRI. Rajeev Thakkar, Raunak Onkar and Raj Mehta will manage the scheme.
In a press release, Neil Parag Parikh, Chairman and CEO, PPFAS MF said, "We want to replicate the idea behind Parag Parikh Flexi Cap Fund on the debt side. The idea is to have a flexible model where we have the freedom to take advantage of market opportunities without being too constrained. Thus, the scheme will not be boxed into any particular type of debt like short term, government bond or high yield. The fund will be our debt fund offering with a slice of equity exposure, REITs and InvITs."
Rajeev Thakkar, Chief Investment Officer, PPFAS MF said, "The scheme will adopt a flexible model that will allow the fund manager to move between accrual and duration related instruments. These include the sovereign, state government, PSU and corporate securities across all maturities. The fund will have 10 to 25% exposure in equity and equity-related instruments. The allocation can be increased or reduced using arbitrage. The scheme will also be able to invest up to 10% of its asset in units of REITs and InvITs."
