Parag Parikh Flexi Cap Fund (PPFCF) is an open-ended dynamic equity scheme, which invests across large-cap, mid-cap and small-cap stocks, without any restrictions on market capitalization. sectors or themes. As per the fund house, the fund has the flexibility to allocate up to 35% of its portfolio in overseas equity securities & domestic money market/debt securities.
Scheme Details
The scheme is managed by Parag Parikh Financial Advisory Services Limited (PPFAS) to generate long-term capital growth through an actively managed portfolio consisting of Indian equities, foreign equities and related instruments and debt securities. The allotment date is 24 May 2013.
Assets Under Management (AUM)
| AUM as on 31 July 2025 | Rs 1,13,280.87 crores |
| Average AUM for the July month | Rs 1,11,799.84 crores |
Minimum Application Amount/Number of Units
| New Purchase | Rs 1,000 |
| Additional Purchase | Rs 1,000 |
| Redemption/switch out amount | Rs 1,000 |
| Monthly SIP | Rs 1,000 |
| Quarterly SIP | Rs 3,000 |
The minimum SIP period for the Parag Parikh Flexi Cap Fund is 6 months for monthly SIP and 4 quarters for a Quarterly SIP.
Benchmark Index: Nifty 500 TRI
The benchmark for Parag Parikh Flexi Cap Fund is the Nifty 500 TRI (Total Return Index) based on AMFI Tier-1 benchmark. The fund also considers the Nifty 50 TRI as an additional benchmark.
Net Asset Value (NAV)
| Plan | NAV |
| Regular Plan | Rs 83.7499 |
| Direct Plan | Rs 91.3431 |
Data as on 2 September 2025
Expense Ratio
| Plan | Expense Ratio* |
| Regular Plan | 1.28% |
| Direct Plan | 0.63% |
*Including additional expenses and applicable GST on management fees.
Data as on 2 September 2025
Quantitative Indicators
| Beta | 0.57 |
| Standard Deviation | 8.75% |
| Sharpe Ratio | 1.67 |
| Portfolio Turnover (excluding Equity Arbitrage) | 18.49% |
| Portfolio Turnover (including Equity Arbitrage) | 36.96% |
Risk free rate assumed to be 5.54% (FBIL Overnight MIBOR as on 31 July 2025)
Plans and Options
The scheme offers ‘Growth Option’ under these two plans:-
- Direct Plan
- Regular Plan
The Net Asset Values (NAVs) of the two plans will be different and declared separately, the underlying portfolio of investments remains the same.
Investors must mention their choice of plan/option for which subscription is made in the application form. If no option is stated, ‘Direct Plan’ as a default plan and ‘Growth Option’ as a default option will be applicable.
Load Structure
Entry Load: The entry load is not applicable.
Exit Load: Investors can redeem 10% of the units without any exit load from the date of allotment. However, if the investor redeems more than 10% of the units, the exit load is applicable as follows:-
- 2% if the investment is redeemed within 365 days from the date of allotment of units.
- 1% if the investment is redeemed after 365 days but till 730 days from the date of allotment of units.
- No Exit Load will be charged if the investment is redeemed after 730 days from the date of allotment of units
In case of switch transactions between the Regular Plan to Direct Plan of the Parag Parikh Flexi Cap Fund, no exit load is applicable for existing as well as prospective investors.
Indicative Asset Allocation
| Instruments | Indicative allocations (% of net assets) | Risk Profile | |
| Minimum | Maximum | High/ Medium/ Low | |
| Equity and Equity related
instruments |
65% | 100% | Medium to High |
| Debt Securities, Money Market
Instruments |
0 | 35% | Low to Medium |
| Foreign Equity and equity related instruments | 0 | 35% | Medium to High |
| Debt Securities (including Units) issued by REITs & InvITs | 0 | 10% | Medium to High |
Investment Objectives of Parag Parikh Flexi Cap Scheme
Parag Parikh Flexi Cap Fund seeks to generate long-term capital appreciation through an actively managed portfolio consisting primarily of Indian equities and equity related instruments. The fund shall also invest in foreign equities and related instruments and debt securities to achieve its investment objective.
Investment Strategies
- The fund aims to generate long-term capital appreciation through equities and related securities.
- Its approach to valuing a stock is similar to making an investment in any business. It considers factors like growth opportunities, industry structure, margins, sustainable competitive advantage, management quality and protection of minority shareholder interests during its stock selection process.
- The fund seeks to purchase stocks trading below their intrinsic value to preserve capital and generate higher returns.
- It regularly monitors its portfolio to understand the impact of changes in business and economic trends on its portfolio constituents.
- Investment decisions of the fund are guided by data and reasoning, not by short-term market trends.
- The fund prefers businesses having strong cash flows and low debt.
- When investment opportunities are not attractive enough, the fund may temporarily allocate a part of its corpus in arbitrage opportunities and/or money market or other debt securities.
Who Should Invest in Parag Parikh Flexi Cap Fund
- Investors seeking long-term capital growth through equity and equity-related securities.
- Investors who understand the risk involved in instant gratification and prefer to wait for wealth creation.
- Individuals who can invest for a long term of 5 years or more.
- Investors with a high risk tolerance who are comfortable with stock market volatility.
- Investors who do not feel the need to track NAVs daily
- Investors who are comfortable with a disciplined, long-term approach and avoid speculative behavior.
Parag Parikh Flexicap Fund Portfolio Break-up
| Instruments | SubTotal % of Net Assets | Total % of Net Assets |
| Core Equity | 64.37% | 66.50% |
| Arbitrage and Special Situations | 2.13% | |
| Overseas Securities, IDRs and ADRs | 11.85% | |
| Units issued by REITs & InvITs | 0.49% | |
| Debt and Money Market Instruments | 21.16% | |
| Certificate of Deposit | 9.18% | |
| Commercial Paper | 0.67% | |
| Mutual Fund Units | 0.45% | |
| T-Bill | 10.86% | |
| Net Assets | 100.00% | |
Data as on 31 July 2025
Fund Managers Details
| Fund Managers | Designation | |
| Mr. Rajeev Thakkar | Chief Investment Officer & Equity Fund Manager | Since Inception |
| Mr. Raunak Onkar | Fund Manager & Research Head | Since Inception |
| Mr. Raj Mehta | Executive Vice President & Fund Manager – Debt | Since January 27, 2016 |
| Mr. Rukun Tarachandani | Executive Vice President & Fund Manager | Since May 16, 2022 |
| Ms. Mansi Kariya | Associate Vice President & Fund Manager | Since December 22, 2023 |
PPFAS Mutual Fund House Details
Fund House: PPFAS Mutual Fund, headed by Neil Parag Parikh, Chairman & CEO.
AMC: PPFAS Asset Management Pvt.Ltd.
Address Details
Registered Office: 81/82, 8th Floor, Sakhar Bhavan, Ramnath Goenka Marg, 230, Nariman Point, Mumbai – 400 021. Maharashtra
Tel: 91 22 6140 6555, Fax: 91 22 6140 6590
Investor Helpline Number
Toll Free: 1800 266 7790,
Email: mf@ppfas.com