Plans to open seven branches this year in various cities ~
Mumbai: PPFAS Mutual Fund, sponsored by Parag Parikh Financial Advisory Services Private Limited, today, opened two new branches in Bengaluru and Pune. In addition to the head office in Mumbai, the fund house has now three branches overall. It had opened its first branch in New Delhi last year.
Neil Parag Parikh, Chairman and CEO, PPFAS Mutual Fund said, "It is extremely heartening to see our fund came a long way since we began operations in 2013, in terms of the number of investors as well as the number of advisors. As such, it is imperative that we plan out this growth in a structured and sustainable way. From a single office in Mumbai, we have expanded our branch presence in three additional cities- New Delhi, Bengaluru and Pune in the last 6 months. "
"It was important that we had 'feet on the street' in these growing markets for us, in order to serve our investors and partners more effectively and promptly. Going forward, in the coming year we hope to start operations in at least four more cities which are showing good traction for us- Chennai, Ahmedabad Hyderabad and Kolkata. I hope this positive momentum continues for us and we can further expand our reach, to welcome more investors and partners to the PPFAS family. "Mr. Parikh further added.
Since its inception, it offers overall three schemes. Parag Parikh Long Term Equity Fund, the flagship scheme of the fund, the house has the freedom to invest in India and up to 35 % in the global markets. Parag Parikh Liquid Fund enables investors to transact and invest in the existing flagship equity scheme through a systematic transfer plan (STP).
The fund house had launched its third scheme Parag Parikh Tax Saver Fund in July 2019 last year. The investor in this scheme can avail Income Tax benefits up to Rs. 1.50 lakhs u/s 80C with a statutory lock-in period of 3 years.
Investors can transact and undertake various other activities using their Mobile and Web App, titled 'PPFAS SelfInvest'.
The fund manages 2980.32 Crores of around One lakh Eighty Thousand investors as per the latest factsheet.