PPFAS Mutual Fund has chosen a different path in the mutual fund space by offering only one scheme, PPFAS Long Term Equity Fund, until recently. The new fund offer (NFO) for its second equity scheme, PPFAS Tax Saver Fund, is open from 4 to 18 July. Its chief investment officer Rajiv Thakkar talks about the fund house’s investing philosophy and why garnering assets under management (AUM) is not its priority
You follow the strategy of having a few funds. Other AMCs with similar assets under management (AUMs) have many more schemes. Why?
The first thing is to not confuse the end investor. Before we were a mutual fund, we were a PMS (portfolio management service) and we also distributed third-party products. At that time, even as professionals, it was difficult to sift through the thousands of schemes in investors’ portfolios and spot the differences. The second is that within PPFAS Long Term Equity, we can invest across market caps, sectors and geographies. Think of it as a Swiss army knife—it’s a single device but has a lot of functions.
