Parag Parikh Flexi Cap Fund is an open-ended dynamic equity scheme that invests across large-cap, mid-cap, and small-cap stocks. Launched on May 24, 2013, the fund aims to generate long-term capital growth through an actively managed portfolio comprising equity and equity-related securities, including investments in Indian equities, foreign equities, related instruments, and debt securities.
Fund Details:
- Type of Scheme: Open-ended dynamic equity scheme investing across large-cap, mid-cap, and small-cap stocks.
- Date of Allotment: May 24, 2013.
- Assets Under Management (AUM): ₹88,005 crore as of February 28, 2025.
- Net Asset Value (NAV): ₹85.8434 as of March 30, 2025.
- Expense Ratio: 0.63%.
Investment Details:
- Minimum Investment: ₹1,000.
- Additional Investment: ₹1,000.
- Minimum SIP Investment: ₹1,000.
- Withdrawal: ₹1,000.
Asset Allocation:
- Equity: 79.06%.
- Cash & Equivalents: 10.77%.
- Certificate of Deposit: 9.55%.
- Treasury Bills: 0.61%.
Top Holdings:
- HDFC Bank Ltd.: 8.43%.
- Bajaj Holdings & Investment Ltd.: 7.00%.
- Coal India Ltd.: 5.99%.
- Power Grid Corporation of India Ltd.: 5.52%.
- ICICI Bank Ltd.: 4.79%.
Performance:
- 1-Year Returns: 14.65%.
- 3-Year Returns: 17.99%.
- 5-Year Returns: 31.47%.
- Since Inception: 19.89% average annual returns.
Risk Measures:
- Standard Deviation: 10.89.
- Sharpe Ratio: 0.96.
- Sortino Ratio: 0.09.
Suitability:
This fund is suitable for investors seeking long-term capital growth through a diversified equity portfolio with investments across various market capitalizations and geographies.
Investors should consult their financial advisers to determine if this product aligns with their investment objectives and risk tolerance.
Who is the Fund Manager of Parag Parikh Flexi Cap Fund?
- Rajeev Thakkar: Serving as the Chief Investment Officer and Equity Fund Manager, Rajeev has been associated with PPFAS since 2001. He holds qualifications as a Chartered Accountant, CFA Charter Holder, and Cost Accountant.
- Rukun Tarachandani: Managing the domestic equity portion alongside Rajeev, Rukun joined PPFAS Mutual Fund in May 2022. He possesses a B.Tech in Information Technology, PGPM in Finance, and is a CFA Charter Holder.
- Raunak Onkar: Dedicated to managing the foreign investment component, Raunak has been with PPFAS since 2008. He holds a B.Sc in IT and an MMS in Finance from the University of Mumbai.
- Raj Mehta: Responsible for the fixed income investments, Raj began his career with PPFAS Mutual Fund in 2012 and is a Commerce graduate, Chartered Accountant, and CFA Charter Holder.
- Mansi Kariya: Serving as Co-Fund Manager for Debt and Credit Research Analyst, Mansi joined PPFAS Mutual Fund in 2018. She holds a B.Com (Hons) from Calcutta University, an MS in Finance from ICFAI University, and is a CFA Charter Holder.
This collaborative approach ensures a diversified and well-managed investment strategy for the Parag Parikh Flexi Cap Fund.
Parag Parikh Flexi Cap Fund Share Price
As of March 31, 2025, the Net Asset Value (NAV) for Parag Parikh Flexi Cap Fund is as follows:Ppfas AMC
- Direct Plan: ₹85.8434
These figures represent the value per unit of the fund on that date.
Performance Overview:
Long-Term Returns: Since its inception in May 2013, the fund has delivered an average annual return of 19.89%, effectively doubling invested capital approximately every four years.
Recent Performance: Over the past year, the fund achieved a return of 14.65%, outperforming its benchmark, the NIFTY 500 Total Return Index, which recorded 12.33% during the same period.
Investment Strategy:
The fund adopts a flexible approach, investing across large-cap, mid-cap, and small-cap stocks, both domestically and internationally.
This strategy allows it to navigate various market conditions effectively. Notably, the fund has a significant allocation to international equities, providing global diversification.
Investor Suitability:
This fund is suitable for investors aiming for long-term capital appreciation and who are comfortable with moderate market volatility. A minimum investment horizon of 3-4 years is recommended to effectively navigate market fluctuations.
Considerations:
While the fund has a strong performance history, recent regulatory restrictions on overseas investments have impacted its international exposure. Potential investors should monitor these developments and assess how they align with their investment objectives.
Parag Parikh Flexi Cap Fund portfolio
As of February 28, 2025, the Parag Parikh Flexi Cap Fund’s portfolio is diversified across various sectors and asset classes. Below is a detailed overview:
Asset Allocation:
- Equity: 77.24%
- Cash & Cash Equivalents: 1.32%
- Debt: 21.44%
Top Equity Holdings:
- HDFC Bank Ltd.: 8.43%
- Bajaj Holdings & Investment Ltd.: 7.00%
- Coal India Ltd.: 5.99%
- Power Grid Corporation of India Ltd.: 5.52%
- ICICI Bank Ltd.: 4.79%
Sector Allocation:
- Financial Services: 24.91%
- Investment Banking & Brokerage: 12.63%
- IT Services & Consulting: 11.33%
- Specialized Finance: 7.31%
- Automobiles (Four Wheelers): 7.05%
Market Capitalization Exposure:
- Giant Cap: 80.47%
- Large Cap: 13.70%
- Mid Cap: 5.49%
- Small Cap: 0.34%
This diversified approach across sectors and market capitalizations reflects the fund’s strategy to balance risk and reward, aiming for long-term capital appreciation.
Parag Parikh Flexi Cap Fund NAV History
The Net Asset Value (NAV) of the Parag Parikh Flexi Cap Fund has demonstrated consistent growth since its inception on May 24, 2013. Here’s an overview of its NAV progression:
2013:
- High: ₹11.1547 (Dec 31)
2014:
- High: ₹16.2296 (Dec 31)
- Low: ₹10.5495 (Feb 4)
2015:
- High: ₹17.8154 (Nov 30)
- Low: ₹15.9399 (Feb 10)
2016:
- High: ₹19.5028 (Oct 25)
- Low: ₹15.5877 (Feb 12)
2017:
- High: ₹24.0155 (Dec 29)
2018:
- High: ₹26.5161 (Aug 30)
2019:
- High: ₹27.8969 (Dec 30)
- Low: ₹23.7828 (Jan 4)
2020:
- High: ₹37.2520 (Dec 30)
2021:
- High: ₹55.3163 (Oct 19)
2022:
- High: ₹55.0629 (Jan 13)
2023:
- High: ₹70.3524 (Dec 28)
2024:
- High: ₹89.6441 (Dec 16)
2025 (YTD as of March 31):
- High: ₹89.0106 (Jan 2)
- Low: ₹85.0944 (Jan 13)
These figures illustrate the fund’s resilience and growth trajectory over the years. For a comprehensive daily NAV history, you can refer to the official PPFAS Mutual Fund website.
Parag Parikh Flexi Cap Fund Return
Parag Parikh Flexi Cap Fund has exhibited consistent performance across various investment horizons. Below is a summary of its returns:
Lump Sum Investment Returns:
| Investment Period | Absolute Returns | Annualized Returns |
| 1 Year | 20.63% | 20.57% |
| 2 Years | 63.89% | 27.98% |
| 3 Years | 66.35% | 18.47% |
| 5 Years | 201.31% | 24.65% |
| 10 Years | 420.50% | 17.91% |
Systematic Investment Plan (SIP) Returns:
| Investment Period | Total Investment | Current Value | Absolute Returns | Annualized Returns |
| 1 Year | ₹12,000 | ₹13,418.14 | 11.82% | 22.50% |
| 2 Years | ₹24,000 | ₹31,703.27 | 32.10% | 29.23% |
| 3 Years | ₹36,000 | ₹51,866.97 | 44.07% | 25.16% |
| 5 Years | ₹60,000 | ₹1,11,545.72 | 85.91% | 25.05% |
| 10 Years | ₹1,20,000 | ₹3,55,178.87 | 195.98% | 20.56% |
Parag Parikh Flexi Cap Fund Direct Growth
Parag Parikh Flexi Cap Fund Direct Growth is a distinguished mutual fund scheme known for its dynamic investment strategy and consistent performance. Below is a comprehensive overview:
Fund Overview:
- Launch Date: May 24, 2013
- Fund Type: Open-ended equity scheme
- Investment Objective: To achieve long-term capital growth through a diversified portfolio comprising Indian equities, foreign equities, related instruments, and debt securities.
- Minimum Investment: ₹1,000
- Expense Ratio: 0.63%
- Exit Load: 2.00% if redeemed within 365 days; 1.00% if redeemed within 730 days; 0.00% thereafter.
Performance Metrics:
| Time Period | Annualized Returns |
| 1 Year | 12.76% |
| 3 Years | 18.43% |
| 5 Years | 27.99% |
Fund Managers:
- Raj Mehta: Managing since approximately 9 years.
- Raunak Onkar: Managing since almost 12 years.
- Rukun Tarachandani: Managing since almost 3 years.
- Mansi Kariya: Managing since about 1 year.
Strengths of Parag Parikh Flexi Cap Fund
1) Consistent Long-Term Performance:
- The fund has delivered strong annualized returns over 5 and 10 years, outperforming its benchmark.
- 10-year annualized return: ~17.91%
2) Diversified Portfolio with Global Exposure:
- Invests in both Indian and international stocks, reducing dependence on a single market.
- Holdings include Google (Alphabet), Amazon, and Microsoft, along with leading Indian companies like HDFC Bank and Bajaj Holdings.
3) Experienced Fund Management:
- Managed by Rajeev Thakkar, Raunak Onkar, and Raj Mehta, who have decades of experience in value investing.
- The team follows a low-risk, high-conviction strategy focused on undervalued stocks.
4) Low Expense Ratio (Direct Plan – 0.63%)
- This helps investors retain a higher percentage of returns compared to funds with higher expenses.
5) Low Portfolio Turnover:
- The fund follows a buy-and-hold strategy, reducing transaction costs and capital gains taxes for investors.
Risks of Parag Parikh Flexi Cap Fund
1) Foreign Investment Risk:
- ~25% of assets are invested in foreign equities, exposing the fund to currency fluctuations and global market volatility.
- US Federal Reserve policies and geopolitical tensions can impact returns.
2) Higher Concentration in Certain Stocks:
- A significant portion of the portfolio is allocated to a few stocks, which increases stock-specific risk.
- For example, HDFC Bank, Bajaj Holdings, and Google (Alphabet) form a large part of the fund.
3) Market Volatility and Correction Risk:
- The fund has shown occasional short-term underperformance, especially in years like 2018 and 2022.
- Investors with a short-term investment horizon may find returns volatile.
4) Exit Load for Early Redemptions:
- Charges 2% if withdrawn within 1 year, 1% if withdrawn within 2 years, making it less flexible for short-term investors.
5) Not Ideal for Conservative Investors:
- While the fund follows a value-investing approach, it still carries equity-market risks and is not suited for very low-risk investors
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