PPFAS Mutual Fund Review: AMC Overview & Top Schemes
PPFAS Mutual Fund manages ₹1.69 lakh crore across 7 schemes, guided by the 'Law of the Farm' philosophy. Explore AMC details, fund returns and portfolios.
PPFAS Mutual Fund is managed by PPFAS Asset Management Private Ltd., a SEBI-registered AMC incorporated in October 2012, with ₹1,69,454.93 crore in total assets under management. The fund house runs a deliberately compact lineup of 7 schemes, built around a patient, value-oriented investment philosophy that sets it apart from most Indian AMCs.
Key takeaways
- PPFAS AMC manages ₹1.69 lakh crore in AUM across just 7 schemes, reflecting a focused approach to fund management.
- The fund house follows the "Law of the Farm" — a philosophy of slow, disciplined, long-term investing rather than chasing short-term market trends.
- Portfolios are built on traditional fundamentals such as low debt and healthy cash flows; algorithms, technical analysis and momentum factors are deliberately avoided.
- Employees and management invest their own money in the equity fund, directly aligning their financial interests with those of unit holders.
- One-time lump-sum investments are not accepted during bullish market conditions — a deliberate risk-management stance.
What Sets PPFAS Mutual Fund Apart?
PPFAS Asset Management Private Ltd. was constituted as a trust under the Indian Trust Act, 1882, and received SEBI registration under code MF/069/12. It is a wholly-owned subsidiary of Parag Parikh Financial Advisory Services Private Ltd., which provides portfolio management and financial advisory services.
Unlike most fund houses, PPFAS offers just one equity scheme, taking the view that a well-constructed equity fund can access a wide range of asset classes and geographies without needing multiple products. Launching additional schemes, the AMC argues, risks creating confusion for investors trying to choose between similar options.
The fund house also operates without a dedicated sales team. A small group of Relationship Managers focuses on building long-term client connections rather than transaction volumes — and their engagement does not end at the point of purchase. They remain available to address investor queries well after an investment is made.
AMC at a Glance
The table below captures the key structural details of PPFAS Mutual Fund.
| Field | Detail |
|---|---|
| Total AUM | ₹1,69,454.93 crore (about ₹1.69 lakh crore) |
| Number of schemes | 7 |
| AMC age | 13 years |
| Incorporation date | 10 October 2012 |
| Sponsors | Parag Parikh Financial Advisory Services Ltd |
| Trustee organisation | PPFAS Trustee Company Pvt.Ltd. |
| Trustees | Mr. P. A. Balasubramanian (Independent Director), Mr. Rajan Mehta (Independent Director), Mr. Dhaval Desai (Independent Director), Mr. Suneel Gautam (Associate Director) |
| CIO | Rajeev Thakkar(Chief Investment Officer-Equity) |
| CEO | Neil Parag Parikh(Chief Executive Officer) |
| Compliance officer | Ms. Priya Hariani |
| Address | 702-705, 7th Floor, 349 Business Point Commercial Premises Co-op. Society Ltd., Western Express Highway, Andheri (East), Mumbai 400069 |
The "Law of the Farm" Investment Philosophy
The AMC's guiding principle is the Law of the Farm, a farming analogy that holds that meaningful results come only through patience and consistent effort — just as a farmer cannot force a harvest. This translates into relatively long holding periods and a deliberate avoidance of trend-following strategies.
Portfolio construction relies on tried-and-tested fundamentals: low debt levels, strong cash flow generation, and business quality. The fund house explicitly states it is not designed for investors who prefer an aggressive, high-churn approach to the market.
Skin in the game is a core tenet. Employees and the management team invest a meaningful share of their own investable surplus in the AMC's equity fund, ensuring that their financial outcomes are directly tied to investor outcomes.
Top 7 PPFAS Mutual Fund Schemes
PPFAS Mutual Fund offers 7 schemes spanning flexi cap equity, large cap, ELSS, conservative hybrid, arbitrage, dynamic asset allocation and liquid categories. The tables below show performance and risk metrics for all 7 funds, ranked by Invo Wealth's internal score.
Returns Across Time Horizons
The Parag Parikh Liquid Fund delivers the steadiest short-term performance (6M: 6.94%, 1Y: 6.38%, 3Y: 6.62%), while the Parag Parikh Flexi Cap Fund shows stronger long-run results (3Y: 12.42%, 5Y: 11.34%). The Conservative Hybrid Fund offers a balanced middle ground with a 3Y return of 9.34% and a 5Y return of 9.26%.
Performance data as of 5 September 2026.
| Fund | Sub-category | 6M CAGR | 1Y CAGR | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid Fund | Conservative Hybrid Fund | 3.47% | 5.51% | 9.34% | 9.26% |
| Parag Parikh Flexi Cap Fund | Flexi Cap Fund | -2.89% | -2.75% | 12.42% | 11.34% |
| Parag Parikh Arbitrage Fund | Arbitrage Fund | 5.50% | 5.79% | -- | -- |
| Parag Parikh ELSS Tax Saver Fund | ELSS (Tax Saver) Fund | -6.91% | -8.13% | 8.40% | 10.47% |
| Parag Parikh Dynamic Asset Allocation Fund | Dynamic Asset Allocation / Balanced Advantage Fund | 2.79% | 3.79% | -- | -- |
| Parag Parikh Liquid Fund | Liquid Fund | 6.94% | 6.38% | 6.62% | 5.96% |
| Parag Parikh Large Cap Fund | Large Cap Fund | -1.96% | -- | -- | -- |
All funds listed are Regular Plan - Growth option. CAGR = compound annual growth rate.
Risk Metrics
The Liquid Fund carries the lowest volatility at 0.20% with a near-zero max drawdown of -0.01%, making it the most stable option in the lineup. At the other end, the Large Cap Fund shows the highest volatility at 18.80%. The Conservative Hybrid Fund posts the strongest Sortino ratio at 1.02, indicating better risk-adjusted returns relative to downside risk.
| Fund | ISIN | Mean 1Y rolling return | Volatility | Max drawdown (3Y) | Sortino ratio |
|---|---|---|---|---|---|
| Parag Parikh Conservative Hybrid Fund | INF879O01209 | 9.97% | 3.32% | -2.24% | 1.02 |
| Parag Parikh Flexi Cap Fund | INF879O01019 | 18.56% | 11.87% | -11.22% | 0.65 |
| Parag Parikh Arbitrage Fund | INF879O01217 | 6.55% | 1.22% | -0.40% | -1.54 |
| Parag Parikh ELSS Tax Saver Fund | INF879O01092 | 16.93% | 13.48% | -15.15% | 0.14 |
| Parag Parikh Dynamic Asset Allocation Fund | INF879O01233 | 5.96% | 3.37% | -2.38% | -1.32 |
| Parag Parikh Liquid Fund | INF879O01035 | 5.73% | 0.20% | -0.01% | -5.24 |
| Parag Parikh Large Cap Fund | INF879O01365 | -- | 18.80% | -13.86% | -0.63 |
Portfolio Holdings: A Closer Look
Parag Parikh Long Term Equity Fund
This open-ended equity scheme is built for investors with a horizon of at least 5 years. Its portfolio spans domestic equities, arbitrage positions and overseas securities.
Core equity is led by HDFC Bank Ltd. (8.57% of net assets), Bajaj Holdings & Investment Ltd. (6.82%), Hero MotoCorp Ltd. (5.12%), Persistent Systems Ltd. (4.62%) and Axis Bank Ltd. (3.58%). Additional holdings include ICICI Bank Ltd., Indraprastha Gas Ltd., Zydus Wellness Ltd. and Sun Pharmaceuticals Industries Ltd.
Arbitrage positions are held in HDFC (4.74%), Tata Steel (2.41%), Maruti Suzuki India Ltd. (2.35%), Century Textiles Ltd. (1.85%), State Bank of India Ltd. (1.46%) and Yes Bank Ltd. (0.63%).
Overseas securities include Alphabet Inc. (9.33%), Suzuki Motor Corp (5.05%), Facebook Inc. (5.03%), Nestlé SA (2.69%), Amazon Inc. (2.27%) and 3M Co. (1.77%). Debt and money market instruments — TREPS including cash and cash equivalents — account for 6.57% of net assets.
Parag Parikh Liquid Fund
This open-ended liquid scheme invests in debt and money market instruments to provide low risk and high liquidity. TREPS including net receivables/payables make up 25.22% of net assets.
Sovereign instruments include 91-day, 182-day and 364-day treasury bills. Government securities consist of a 7.86% Rajasthan SDL and a 07.28% Govt Stock, each at 3.73% of net assets. A1+ commercial papers and certificates of deposit are held from Indian Oil Corporation Ltd., HDFC Ltd., NTPC Ltd. and NABARD. Fixed deposits account for a small portion: 0.38% in a 7.40% HDFC fixed deposit and 0.37% in a 6.25% HDFC fixed deposit.
How to Invest in PPFAS Mutual Funds
Starting an investment online is straightforward. Sign up on Invo Wealth to access complete portfolio insights and invest in mutual funds that suit your financial goals. You can also invest directly through the PPFAS AMC website or any other registered online investment platform.
Conclusion
PPFAS Mutual Fund is a 13-year-old AMC managing ₹1.69 lakh crore through a focused set of 7 schemes. Its "Law of the Farm" philosophy, employee co-investment model and no-sales-team structure reflect a conviction-driven approach aimed squarely at long-term investor outcomes. For investors who share a patient, fundamentals-first outlook, PPFAS offers a well-articulated and distinctive option within the Indian mutual fund landscape.
Frequently asked questions
How do I start a SIP in PPFAS Mutual Fund online?
You can start a PPFAS Mutual Fund SIP online through Invo Wealth or directly on the PPFAS AMC website. Any other registered online investment platform or mobile application also supports PPFAS SIPs, making the process fully paperless.
How is a PPFAS Mutual Fund SIP return calculated?
To estimate your SIP returns you need four inputs: the monthly investment amount, the total investment tenure, the number of instalments already paid (if any), and the expected rate of return. Entering these into an online SIP calculator gives you the projected maturity value.
How do I redeem my PPFAS Mutual Fund investment?
Online redemption can be done by logging in with your folio number on the PPFAS AMC website or on any platform where you originally invested. For offline redemption, visit the nearest fund house branch and submit the redemption request form.
Can I increase my SIP amount in a PPFAS Mutual Fund?
Yes, PPFAS Mutual Fund SIP amounts can be stepped up using the Step-up or top-up SIP facility. It is advisable to first confirm this feature is available with the fund house, then use a Step-up SIP calculator to work out the revised instalment before making any changes.
How do I stop or cancel a PPFAS Mutual Fund SIP online?
You can cancel a PPFAS SIP at any time by placing a Cancel SIP request online. Log in to the AMC website using your folio number, use the investment platform where the SIP was set up, or contact your agent to initiate the cancellation.
Mutual fund investments are subject to market risks; read all scheme-related documents carefully. This article is for education only and is not investment advice. Past performance does not guarantee future returns. Invo Wealth is an AMFI-registered mutual fund distributor (ARN-368528).