Fund Deep Dive

Parag Parikh Flexi Cap Fund

India's largest flexi cap fund (₹1.34 Lakh Cr AUM) with a unique global diversification strategy. A Buffett-inspired, value-driven portfolio managed by Rajeev Thakkar since 2013.

Data as of March 2026 | Direct Growth Plan | Benchmark: Nifty 500 TRI

Fund Snapshot — Key Statistics

Essential fund metrics at a glance
₹1,34,253 Cr
Assets Under Management
₹87.79
NAV (Growth)
0.63%
Expense Ratio
★★★★★
Morningstar Rating
24 May 2013
Fund Launch Date
Rajeev Thakkar
Fund Manager
₹1,000
Minimum SIP Amount
2% / 1%
Exit Load (<1yr / 1-2yr)

Returns Comparison — Fund vs Benchmark vs Category

Consistent outperformance across all time periods
Period Fund Nifty 500 TRI Category Avg Alpha
1 Year 6.11% 5.2% 4.8% +0.91%
3 Year CAGR 19.74% 14.5% 13.8% +5.24%
5 Year CAGR 19.87% 14.85% 15.2% +5.02%
10 Year CAGR 17.8% 13.2% 12.5% +4.6%
Since Inception (13Y) 20.4% 14.1% — +6.3%

Returns Comparison — Visual

Fund vs Benchmark performance across time horizons
1 Year
6.11%
5.2%
3 Year
19.74%
14.5%
5 Year
19.87%
14.85%
10 Year
17.8%
13.2%
Since Inception
20.4%
14.1%

SIP Wealth Growth Calculator

If you had invested ₹10,000/month since inception or start date
3 Years
Total Invested
₹3.6L
Current Value
₹4.40L
+22% Gain
5 Years
Total Invested
₹6L
Current Value
₹8.95L
+49% Gain
10 Years
Total Invested
₹12L
Current Value
₹32.83L
+174% Gain
Since Inception (13Y)
Total Invested
₹15.6L
Current Value
₹58.2L
+273% Gain

Risk Metrics Dashboard

Defensive characteristics with excellent risk-adjusted returns
Sharpe Ratio
1.65
Excellent
Alpha (10Y)
10.94%
Outstanding
Beta
0.55
Defensive
Std Deviation
8.59%
Low Volatility
Sortino Ratio
2.59
Strong
Max Drawdown
-8.46%
Well Controlled
Expense Ratio
0.63%
Very Low
Treynor Ratio
26.8
Category Best

Asset Allocation

Geographic and asset class spread
Indian Equity 64%
Foreign Equity 16%
Debt/Bonds 8%
Cash 12%

Market Cap Distribution

Size distribution within equity holdings
Large Cap 62%
Mid Cap 10%
Small Cap 3%
Foreign 16%
Debt/Cash 9%

Top 15 Holdings

Detailed breakdown of portfolio concentration
# Stock Sector Weight Type
1 HDFC Bank Banking 8.09% India
2 CCIL Financial Services 7.89% India
3 Power Grid Corp Utilities 6.92% India
4 Coal India Mining 5.18% India
5 ITC Ltd FMCG 5.04% India
6 ICICI Bank Banking 4.97% India
7 Kotak Mahindra Bank Banking 4.07% India
8 Bajaj Holdings Diversified 4.52% India
9 Alphabet Inc Technology 3.99% 🇺🇸 US
10 Mahindra & Mahindra Auto 3.63% India
11 Microsoft Corp Technology 3.20% 🇺🇸 US
12 Amazon.com E-Commerce 2.85% 🇺🇸 US
13 Meta Platforms Social Media 2.60% 🇺🇸 US
14 HCL Technologies IT Services 2.40% India
15 Maruti Suzuki Auto 2.10% India

Sector Allocation

Portfolio concentration by sector
Banking & Finance
24%
Technology (US)
13%
FMCG
5%
Utilities
7%
Mining
5%
Auto & Transport
6%
IT Services
4%
Diversified
5%
Others
11%
Debt & Cash
20%

Global Diversification — US Tech Giants in Your Portfolio

Approximately 16% of the fund is invested in America's most profitable technology companies. No other Indian flexi cap offers this unique advantage.
Alphabet (Google)
3.99%
Search, Cloud Computing, AI/ML, YouTube
Microsoft
3.20%
Enterprise Software, Azure Cloud, AI
Amazon
2.85%
E-Commerce, AWS Cloud, Advertising
Meta
2.60%
Social Media, Metaverse, AI Research
Rajeev Thakkar
CIO (Equity) & Director, PPFAS AMC
Experience: 30+ years in financial services and fund management
Tenure: Managing this fund since May 2013 (13 years)
Philosophy:
"Stay the course for 10, 15, 20 years. Only stocks at right valuations provide long-term returns. Quality of business and management integrity is paramount."
Skin in the Game: Fund managers hold ₹283+ Cr of their own money in this fund (1.46% of AUM). When the fund falls, their wealth falls too. Alignment over marketing.

Peer Comparison — Parag Parikh vs Other Leading Flexi Caps

Why PPFAS stands out in the flexi cap category
Metric Parag Parikh HDFC Flexi Cap Kotak Flexi Cap
AUM ₹1,34,253 Cr ₹97,451 Cr ₹56,478 Cr
3Y CAGR 19.74% 21.85% 17.45%
5Y CAGR 19.87% 20.34% 13.83%
Expense Ratio 0.63% 0.77% 0.59%
Beta 0.55 0.76 0.94
Sharpe Ratio 1.65 1.32 0.98
International Exposure 16% 0% 0%

Year-by-Year Returns & Outperformance

Calendar year performance vs benchmark (mostly positive outperformance)
Year Fund Benchmark Outperformance
2025 6.1% 5.2% +0.9%
2024 26.4% 24.8% +1.6%
2023 35.7% 22.1% +13.6%
2022 6.3% 0.8% +5.5%
2021 41.2% 30.4% +10.8%
2020 24.3% 17.2% +7.1%
2019 15.6% 9.3% +6.3%
2018 -1.8% -3.5% +1.7%
2017 26.1% 35.5% -9.4%
2016 6.4% 4.5% +1.9%

Why This Fund — Six Key Reasons

What makes Parag Parikh Flexi Cap unique in the Indian market

India's Largest Flexi Cap

₹1.34 Lakh Cr AUM by a wide margin. Size provides stability, liquidity advantage, and influence in corporate governance.

Global Diversification Built In

16% US exposure (Alphabet, Microsoft, Amazon, Meta). No other Indian flexi cap offers this. Currency hedge + tech growth in one fund.

Skin in the Game

Fund managers hold ₹283 Cr+ of their own money in this fund. When the fund falls, their wealth falls too. Alignment > Marketing.

Lowest Beta in Category

Beta of 0.55 means this fund moves only half as much as the market. During crashes, it falls less. Your sleep quality matters.

Buffett-Inspired Value Investing

Rajeev Thakkar's philosophy: buy quality businesses at fair prices, hold for decades. No chasing momentum or themes.

13 Years of Consistency

Since 2013 inception, the fund has beaten its benchmark in 9 out of 10 calendar years. Consistency is the real alpha.

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Disclaimer: All data sourced from Groww, Tickertape, Advisorkhoj, ET Mutual Funds & Scripbox (as of March 2026). All returns shown are for Direct Growth plans. Past performance is not indicative of future returns. This platform is for educational purposes only and does not constitute financial advice. Please consult a SEBI-registered investment advisor before making any investment decisions.