PPFAS Mutual Fund has cut the total expense ratio on the Parag Parikh Long Term Value Fund by 20 basis points from January 1. The expense ratio now stands at 1.80 per cent per annum for the direct plan and 2.30 per cent per annum for regular plan, the fund house said.

The fund had a TER of 2.80 per cent on its regular plan and 2.22 per cent on its direct plan on December 31.

Parag Parikh Long Term Value Fund (PLTVF) is an open-ended equity oriented scheme with the flexibility to invest a minimum 65 per cent in Indian equities and up to 35 per cent in overseas equity securities and domestic debt/money market securities.

The monthly factsheet of the scheme said no new stocks entered into or old ones exited from its portfolio. The top three holdings of the scheme were: Alphabet (12.82 per cent), Bajaj Holdings (7.50 per cent) and HDFC Bank (7.41 per cent).

The top 10 equity holdings comprise 61.30 per cent of the core portfolio. These include three stocks listed overseas (Alphabet, UPS and IBM). "Banks, internet & technology and finance make up the top three sectors, comprising 43.66 per cent of the portfolio," the fund said.

As at January 31, 2017, 65.42 per cent and 31.19 per cent of our portfolio is invested in Indian and foreign equities respectively, with the residual 3.39 per cent parked in cash equivalents, CBLO & fixed deposits.

The fund house also said that its investment stance does not depend much on the macro-economic situation but on individual companies. "We have about 3.39 per cent in cash holdings and arbitrage positions which can be deployed in long term investments at appropriate levels," it said.

PPFAS Mutual Fund also said that it is futile to predict market bottoms or tops or to time the market. "One's investment horizon should be long enough to ride out the volatility. A staggered investment over time or a Systematic Investment Plan (SIP) is always better than a lump sum investment," it added.

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