Happy b’day dad! Can’t believe it’s already been 5 years.. hope we all at
@PPFAS
making you proud and ‘walking the talk’ like you always wanted PPFAS to with our 3 pillars-Transparency, Integrity and Discipline. Today we celebrate
#FoundersDay
We are staying away from excesses, are mindful of starting valuations and also have some cash. We are happy to underperform in such markets.
Also, not a bad time to slowly redeem if you need money in the next couple of years.
Otherwise continue investing as per your plan
@npparikh6
Neil whenever you guys say stay careful, retailers take it in a way that we have to exit.
Can you give us a peak in what exactly your team is doing right now? Increasing the cash allocation can be one if I have to guess right
I find it amusing that ppl think that we- PPFAS MF are not advisor/ distributor friendly, especially to the smaller players.
Let me tell you something that we do that NO other AMC does
I was asked my views surrounding money/ money management and my inspiration growing up by the team of Outlook Money..what an apt time for this to release as today is dads 5 year death anniversary.. so this is dedicated to him 🙏..
This is exactly why at PPFAS MF we do not believe in targets and don’t have any targets for anyone. Sure shot way to mis-sell. Also have same commission for all for this very reason. Ensures only genuine investors and distributors align with us
This is a more systemic issue, not with one bank but across the board, banks to ed-tech to fintech. As long as you give revenue targets & push employees to get there, products that generate more revenue for the business over what is right for the customer will be mis-sold 1/4
Absolutely.. the only guarantee for equity funds is underperformance at some point..
do not invest looking at past performance..
invest only if you trust us and our process and if you have patience to remain invested 5+ years minimum
Folks who love investing in PPFAS today, do prepare yourself for underperformance too.
The NAV didn’t go anywhere for more than 3 years in the past. Will happen in future too.
NAV on 2 Jan 2017 - 18.3
NAV on 24 Mar 2020 - 20.15
PS - I’ve picked the lows. That’s when you panic
Tis the season for IPO’s..
So thought to share this article by our founder- Mr. Parag Parikh written 11 years ago. ✌️
* sharing only for educational purpose and not advise/comment on any individual company *
Our motto from the beginning has been-we do not chase high net worth individuals, we create them..same model for our partners-big or small!
Let’s create a community of long term like minded investors/ partners who can sleep well at night. Bas! that’s the goal.
#IgnoreTheNoise
Today, on our Founder
@paragparikh
's birth anniversary, all of us at PPFAS recount his zest for life. He often told us to do the right things... and not merely do things right, and today we renew our pledge, to always remember this.
#timeless
Congratulations to entire
@PPFAS
team for winning the Equity AMC of the Year (Silver) Award.. Let’s continue on this path of Transparency, Integrity and Discipline.. thank you investors/ partners for believing in us 🙏
We restrict our overseas investments to North America,Western Europe and Developed Asia where
⁃we are confident markets, governance and legal systems are strong and fair
⁃We can get Balance Sheets in English
⁃Invest in companies/ products we understand/ familiar with
Our plans going forward-
We will be shifting to the new flexi cap category. We will communicate the details in due time once all necessary approvals are taken and due process has been followed.
PPFAS July 2022 changes are out
Pretty interesting changes
# Reduced ITC /Coal India share count by -19%
# added in HCL/HDFC/PowerGrid/Zydus and pharma a bunch
# HDFC is now highest weightage stock
# overseas stock at 22.65%
# 14 stocks =75% of AUM
# cash: 7%+
#onefund
A lot of people ask us why we don’t have a Balanced Advantage Fund (BAF). Do read this article by
@maulik_madhu
(HBL)
Parag Parikh Flexicap Fund’s downside protection and upside participation beats most of the BAF’s.
Hope this clears the air.
PPFAS MF will complete 10 years this month. A CAGR of 19% (on Flexicap). AUM up 200 times from 150 crore to 30,000 crore. A remarkable success story. But what’s the DNA behind it? I would argue 4 things:
Focus on a single scheme or handful of schemes (not a thicket of schemes
will be discussing these with our board / trustees / SEBI and AMFI. We will not be in a position to comment on the prospective measures till all approvals are in place.
Thank you for your patience. Rest assured that we will have the best interests of unitholders in mind.
Consider this our debt offering.. The category we have chosen (Conservative Hybrid) just gives us the flexibility to go where we find opportunity.. Similar to our flagship flexicap fund.. "A one stop shop" now for your debt allocation..
We pay the SAME commission to the biggest bank and to the smallest advisor! And we take a big hit as some of the bigger players will obviously not like this model of ours.
So.. Please tell me if there is anything more fair and transparent than this wrt distribution
@fundainvestor
@PPFAS
Wish you a very happy b’day!!Hope you have an amazing day and year ahead! I personally find it quite annoying that on b’days and festivals my mailbox gets filled with such mails from brands/companies/ service providers etc.Hence don’t do that to someone else
People will say what they have to.. but I believe in the long term our actions will speak louder than fancy advertising, syrupy marketing, pointless webinars and a gazillion NFO’s
Sending my
@PPFAS
shares for dematerialization. Missing Paragbhai - felt his presence while holding these paper shares today. Memories of my great mentor remain so vivid!
On our website (
@PPFAS
) since day 1.. communicating and setting expectations is extremely important to attract the right kind of investors and advisors.. focus on what’s important rather than chasing everything and everyone..
We will be reopening our Parag Parikh Flexicap Fund for inflows from 15th March. The expectation was that overseas limits would be increased soon, but looking at the current situation, we are assuming this may take some time. Hoping for the best though🤞
He practiced what he preached.. my brother and I are example of how he planned for us.. Even after his sudden passing, he had made sure everything was in order/smooth and we didn’t face any legal,operational issues. Miss you 🙏
The end to this game is beyond embarrassing.. Dhoni and Jadhav are a big disgrace.. not even trying.. reminds me of prabhakar and mongia throwing a match like this in the 90’s.. they were banned for a couple games. Merits the same here
Sir..Exactly the reason why we
@PPFAS
are not afraid to stay in cash when we find markets expensive.. believe this action gives clear signal to investors abt our thinking and helps them stay the course.. I hope 🤞
All Fund Managers start parroting the same lines in such collapses:" Healthy fall.Valuations reasonable now. Froth is gone. Buy now".How come we never heard them say the opposite,at market tops:"Market toppy, Due for a fall, Valuations crazy, Everything too frothy,take money out"
Preponing the AGM due to all the uncertainty and craziness that 2020 brings .. we are sure our unitholders will have many questions on various issues which we hope to answer to their satisfaction 🤞
Happy to announce that we will be holding our 7th. Unitholders' Meet on Saturday, October 24, 2020 from 4:00 PM IST onwards. Given the restraints in place on account of COVID-19, it shall be conducted online. We will share further details closer to the date.
Will be very similar to our conservative hybrid fund (CHF)..will have indexation benefit as CHF will be taxed fully after the new debt taxation.. this created a gap in the product offering and demand from unitholders for such a fund.. consider this for ur debt allocation
Parag Parikh -
A Successful value Investor and Founder of PPFAS AMC.
He always wanted to make a normal investor to High networth individual.
Sharing his success story.♥️
– A Thread 🧵–
Shifting to the new category will ensure that there will be no change in the way the fund is run, except for a change in the scheme name as required by regulation.
@PPFAS
In laws got vaccinated today at NESCO. Fantastic experience door to door an hour. Facilities available - parking, chairs, food, water, wheelchairs, and the staff was very courteous. Hope people share their experiences and give credit when it’s due.
We
@PPFAS
have been explaining the benefit and practicing international investing since more than a decade.. glad it’s gaining popularity.. but beware of blindly jumping on the bandwagon. Marketing is strong in this space.. just like sector funds that have run up recently..
This month factsheet has a note from our CIO - Rajeev Thakkar. He talks about-
-Market outlook and our investment stance
-Investment strategy
-Addresses size of the Fund- advantages and disadvantages
-Small tweak to our investment approach
Investors,do read!
Do not miss out on reading CIO
@RajeevThakkar
's comprehensive Note to us - fellow unitholders - in the Factsheet for May 2021. Also... the portfolio for Parag Parikh Conservative Hybrid Fund will form a part of the Factsheet for June 2021.
Read this (image via
@padhucfp
)
TATA Steel as recently excluded from the sensex and will be included again within 6 months. Stock moved up 80% after exclusion from the sensex!!!!
The note from CIO- Rajeev Thakkar explaining why we did what we did on our recent portfolio actions.. Hope this answers a lot of the questions people had..
Received feedback on this from unitholders and thought would be good to implement this .. this will help investors meet for sudden emergencies and will help them to rebalance according to their Asset Allocation
Notice regarding modification in the exit load for Parag Parikh Flexi Cap Fund: Effective November 15, 2021 in respect of each purchase / switch-in of units, 10% of the units may be redeemed without any exit load from the date of allotment
We began our journey in international equities at the start of last decade.. glad people are starting to realize the benefit at the start of this decade.. better late than never.. 🙌🏼
A good read for all our unitholders as well as for people who maybe interested in getting to know our thought process of managing money via our Mutual Fund
Many look forward to reading CIO
@RajeevThakkar
's thoughts on the year gone by, prior to every Unitholders' Meet. His latest Communication is as interesting as ever...
#investing
#mutualfunds
@paragparikh
must be proud that even though
@PPFAS
is a small fund house, it is the ONLY fund house that has the guts to run just one Equity fund, and the guts to hold unitholder meetings. Even better, no other fund house has even copied them! Congrats guys.
Will be similar to Conservative Hybrid Fund (CHF) in return profile.. so will be heavy on debt allocation and equity + arbitrage will be at around 35% to get indexation benefits. Allocation will mostly be static than dynamic. Consider for DEBT allocation
the KIM/ scheme document for PPFAS dynamic fund is out
A mix of Equity + Arbitrage + debt
More space and flexibility to take Equity valuation advantage (though the risk profile may be closer to the existing hybrid fund)
Indexation taxation.
Such a false and misleading generalization! wow.. people just tweet without any thought or regard or research... Appalled at such massive generalization of our industry
@invest_mutual
Our (Parag Parikh) Flexicap fund can go as much as 85% in cash/ cash equivalents
35% - cash/ debt
50% - cash to futures arbitrage
But yes, mandates will vary across fund houses
Exactly why we closed our institution and retail broking biz + PMS and everything else.. now we only run a MF ( 1 equity and 1 liquid).. no conflict of interest and peace of mind ✌️
Very few MF can say "we have no vested interest because we have no other business". In fact the biggest houses have the biggest conflicts and recently we saw them fail. Far, far, far bigger issues Mr. Regulator.
Haha so true.. and our industry will then cry about why there is a trust deficit 🙄.. same things repeated every cycle.. but ‘this time it’s different’ 😂
We are seeking clarity from regulator if it’s on the difference in redemption value only or also includes diff in market value from Feb 1? Once we are clear, will put out a communication. As of now, we are not deploying in overseas stocks
@renugupta
@SatyaSontanam
@PPFAS
PPFAS Flexicap is already open. What they might update on is whether they'll start deploying money in international stocks again and how much. We'll check with them. :)
This is exactly the kind of messages/ commentary/ speculation that will get investors in trouble.. remember the same kind of predictions started if Trump came to power or brexit happened etc.. for the safety of your financial portfolio, ignore such BS!
A small physical step (to the next building)... but a giant step in terms of our commitment. We inaugurated our new
#Bengaluru
Branch in the presence of CEO
@npparikh6
and his family. Visit us at: 508, 4th floor (Level 5) No 30, Prestige Meridian II, MG Road, Bengaluru - 560001
Asset Management Company: 1) CIO/ Research Team most important (2) obsess over growth in NAV
Asset Gathering Company: 1) CEO/ Sales and Marketing Team most important. (2) obsess over growth in AUM
Enrich urself or enrich others?
#ChooseWisely
And we continue to stick to these principles.our motto is-don’t want to just be something to everybody,but rather everything to somebody. so continue to do what is in best interest of our investors and focus on building trust and goodwill, even at the cost of some income,size,AUM
Do what is in the client’s interest even at the expense of foregoing substantial income.
And he stuck to this principle even during the several bull and bear runs that the stock markets saw in the next 30-odd years
He was
#paragparikh
@PPFAS
Developments on the 'Dividend Distribution Tax' (
#DDT
) are causing some disquiet for the past few days. We thought it an apt time to reiterate why our flagship Equity Scheme refrains from offering the 'DIvidend Option'.
#FromTheArchives
.
There should be a uniform commission structure for all AMC’s. Each category pays same..no hanky panky.. full transparency. will weed out the BS
Will spur innovation among AMC’s
Will spur fiduciary responsibility/ right advise among advisors
End investor wins!
Today we have
@npparikh6
, CEO of
@PPFAS
. Neil has 90% of his portfolio in equity, which he has not trimmed despite the rally. Age is in my favour, he says. In debt, he plans to shift from liquid to the new Conservative Hybrid Fund. Read full story here
Thank you so much for the trust and confidence 🙏.. unfortunately these are not in our current plans, though we will soon be launching our debt offering once we get the necessary approvals
Hello
@npparikh6
, just a suggestion to you to explore launching other financial services like life insurance and managing funds of NPS. coz people really need ethical, transparent company & products which are simple To understand & are not created for the purpose of mis-selling
Combo mutual funds with roughly- 70-30% split between Indian and foreign stocks is a model whose time has come. The largest blind spot of the Indian mutual fund industry is its home country bias.
#mutualfunds
our flagship flexicap scheme was built with a swiss-army knife concept- one device having multi functionality.. this enables us to keep things simple and not launch scheme after scheme..
@npparikh6
@maulik_madhu
PPFAS has some MOAT in mutual fund industry, please continue the same. Current PPFAS scheme full fills all the investor needs.
How well do you know the fund managers you invest with? Beyond performance & risk ratios, there's more: their core investment philosophies & personal beliefs. This, we want to bring out in our 'Know Your Fund Manager' series.
Here with PPFAS's
@RajeevThakkar
@ZerodhaVarsity
@KiranRajput_
We will answer all these questions at our Unitholders AGM in a few months. The short answer is we are finding enough opportunities and don’t think size is a concern at this time
Forcing ppl is never a good idea.only invest with conviction and trust.Our organization always believes in creating goodwill so ppl within PPFAS would be proud to invest.only then can we convince others to join us.Not in favor of this.Esp at these tough-times
We do not, usually, talk about our Schemes on social media. However, suggestions that we should launch an India-centric Fund led to this post.
While deliberating on the suggestion, we realised that our ELSS, Parag Parikh Tax Saver Fund (PPTSF) fitted the bill, given that:
There is always going to be a section of ppl who will find fault in u.. Better to stick with your circle of competence, work with like minded advisors and have the right kind of investors.. peace of mind and majha ni life! 😄
Many of our fellow Unitholders are perplexed as to why we have enabled 'Covered Call' writing within our flagship Scheme, Parag Parikh Long Term Equity Fund. CIO
@RajeevThakkar
sets out to clear the fog...
#mutualfunds
#derivatives
#investing
This is not about relative pay scales across industries 🥺. its about illogical forcing of investments which could be sub optimal for the individual.. ESPECIALLY in the long term! why should anyone be locked into liquid funds for 3 years!!
@npparikh6
@KalpenParekh
@nalinmoniz
Mutual Fund Salaries even at the Junior Levels are generally higher that what one can get outside. I think this forceful investment would impact the short term cash flows but long term he is still better off
Looking outside my window, 2 out of 3 people are not wearing a mask.. as in no mask on their faces.. they don’t care if anyone walks past them and not maintaining any social distance 🤦🏽♂️.. have people just stopped caring?
There has been some uncertainty ever since we announced that we would temporarily suspend inflows into Parag Parikh Flexi Cap Fund, recently. CIO,
@RajeevThakkar
attempts to soothe nerves, via this crisp Note...
Skin in the Game is great if done with ones own free will.. it shows that people are confident and convinced with what they are doing. I am against this forcing people to do things. It dilutes the whole skin in the game concept.
@npparikh6
Just to be the devils advocate, ( I and my family are investors in PPMF) could u be against it because you would loose your USP of skin in the game ?
The kindness of strangers!
Went to the Passport Office to get my passport renewed on a Tatkal basis. They insist on cash payment for the additional service fee for this, and I didn't have enough on me. The gentleman ahead of me kindly lent me the money! Thank you
@npparikh6
If anyone wants to know more about our Founder (PPFAS) and his journey, please send us a request by filling the details.. we will email you the soft copy .. its free btw
@LarissaFernand
@PPFAS
@oraunak
We will answer all these questions at the annual AGM in November..the short answer is there are no issues with deployment of funds.. there are few PMS’s bigger than us and MF’s who manage lacs of equity aum .
You should technically fire your distributor for such basic wrong information! We disclose this info on our factsheet every month so no excuse to say they can’t find it..