PPFAS Mutual Fund names fund after founder, Parag Parikh

PPFAS Mutual Fund has informed its investors that it has changed the name of PPFAS Long Term Value Fund to Parag Prikh Long Term Value Fund. The change in name would be applicable from September 16. The fund house said that apart from the name, there is no change in any of the scheme's attributes.

Neil Parag Parikh, CEO of the fund house, said the reason behind the change of name is to pay homage to Parag Parikh, the founder of PPFAS MF. “Given Mr. Parag Parikh's standing and image in the industry, we believe it has the potential to ensure better connect and recall among investors and distributors as compared to a bland acronym.”

Parag Parikh was a respected figure in Dalal Street. His commitment to value investing and his insights into behavioural finance have set him apart from other stock brokers. After a long stint in broking and PMS services, Parikh set up the mutual fund business to serve the cause of small investors. Parikh passed away two years ago in the USA. He had travelled to the country to hear his hero, Warren Buffett, the legendary value investor.