PPFAS Mutual Fund files draft document with Sebi for largecap fund

PPFAS Mutual Fund has filed a draft document with Sebi for a large cap fund - Parag Parikh Large Cap Fund. The fund will be an open ended equity scheme predominantly investing in large cap stocks.

The objective of the scheme will be to generate long term capital appreciation and income distribution to investors by predominantly investing in equity and equity related instruments of large cap companies.

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The performance of the fund will be benchmarked against Nifty 100 -TRI. The exit load will be nil.

This large cap fund will be managed by Rajeev Thakkar, Raunak Onkar, Raj Mehta, Rukun Tarachandani, Tejas Soman, and Aishwarya Dhar.

For new purchase, the minimum application amount will be Rs 1,000 and in multiples of Re 1 thereafter. For monthly SIP, the minimum amount will be Rs 1,000 and in multiples of Re 1 thereafter. For the quarterly SIP, the minimum amount will be Rs 3,000 and in multiple of Re 1 thereafter.

Parag Parikh Large Cap Fund will allocate 80-100% in equities and equity related securities of large cap companies, 0-20% in equities and equity related securities of other than large cap companies, equity and equity related securities of foreign companies, 0-20% in debt and money market instruments, and 0-10% in units issued by REITs and InvITs.

The scheme will aim to maximize long term total return by investing predominantly in equity and equity related securities of large cap companies without any sector bias. The scheme shall adopt a disciplined yet flexible long term approach to investing with a focus of generating long term capital appreciation.

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The scheme shall look at such opportunities in the universe of large and established companies. The Scheme may also invest a part of its corpus in overseas markets in Global Depository Receipts (GDRs), ADRs, overseas equity, bonds and mutual funds and such other instruments as may be allowed under the Regulations from time to time.

According to the draft filed, the fund will be suitable for investors who are seeking wealth creation over the long term and to invest predominantly in equity and equity related instruments of large cap companies.