Parag Parikh Long Term Equity becomes Parag Parikh Flexi Cap Fund
Parag Parikh Mutual fund aims to help the investors to achieve their long-term financial goals through prudent fund management. The MF has launched a Long-term equity fund in May 2013. Further, the NIFTY 500 Total Return Index played as a benchmark to the scheme. According to the source, the MF has launched Parag Parikh Long-Term Equity Fund.
According to the news, the PPFAS MF has renamed PPLT Equity Fund as Parag Flexi Cap Fund. However, it defined as an open-ended dynamic equity scheme by SEBI. Moreover, the scheme invests in large, mid, and small-cap stocks.
The officials of the mutual fund said that they will make some required changes in the flagship scheme. They also cleared that there is no change in the portfolio. But, necessary changes will effective after getting the approvals from the market regulator.
Further, the fund managers will manage the fund-collecting by the way it has been managed in the previous session.
As of the reports, the recategorized fund will allow the fund managers to invest in stocks where there is no restriction in values and opportunities.
We also knew that the market regulator has already been introduced new rules for multi-cap funds. As per the SEBI norms, these funds should invest around 25% of the portfolio in large, mid, and small-cap sectors. After the issuance of the circular, the association of mutual fund house in India asked the market regulator SEBI to create a new flex-cap category. Moreover, the new category will not have any conditions as mentioned above.
In the last three months, the scheme generates approximately 11.20% returns.
According to the source, PPFAS MF’s PFCF scheme is the one and only scheme that will invest in a handful of Indian and Foreign stocks. Further, the scheme will take the chance to invest nearly 35% in the overseas market.
Besides, the fund has been maintained approximately Rs. 5,757.28 crores assets under this scheme along with Rs. 171.41 crores by the management and employees.