Parag Parikh Conservative Hybrid Fund

An open-ended hybrid scheme investing predominantly in debt instruments

Factsheet - MARCH 2025

Name of the fund	Parag Parikh Conservative Hybrid Fund (PPCHF)
Investment Objective	To generate regular income through investments predominantly in debt and money market instruments. The Scheme also seeks to generate long term capital appreciation from the portion of equity investments under the scheme. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.
Type of the scheme	An open ended hybrid scheme investing predominantly in debt instruments.
Date of Allotment	26th May 2021
Name of the Fund Managers	Mr. Rajeev Thakkar - Equity Fund Manager (Since Inception) Mr. Raunak Onkar - Equity Fund Manager (Since Inception) Mr. Raj Mehta - Debt Fund Manager (Since Inception) Mr. Rukun Tarachandani - Equity Fund Manager (Since May 16, 2022) Ms. Mansi Kariya - Co - Fund Manager-Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 0.65%* Direct Plan: 0.35%* *Including additional expenses and GST on management fees. Total Expense ratio is as on last business day of the month
Tier 1 Benchmark Index	CRISIL Hybrid 85+15 - Conservative Index TRI
Additional Benchmark	CRISIL 10 year GILT Index
Minimum Application / Additional Purchase Amount	New Purchase: ₹ 5000 and in multiples of ₹ 1 thereafter. Additional Purchase: ₹ 1000 and in multiples of ₹ 1 thereafter.
Minimum SIP Investment Amount	Monthly SIP: ₹ 1,000, Quarterly SIP: ₹ 3,000

Assets Under Management (AUM) as on Mar 31, 2025	₹ 2,451.46 Crores
Average AUM for the Month	₹ 2,429.04 Crores

Net Asset Value (NAV) as on Mar 31, 2025
Regular Plan	14.5917
Direct Plan	14.7605
Regular Plan - Monthly IDCW	10.8819
Direct Plan - Monthly IDCW	10.8806

Entry Load	Not Applicable
Exit Load	In respect of each purchase / switch-in of Units, 10% of the units (“the limit”) may be redeemed without any exit load from the date of allotment. Any redemption or switch-out in excess of the limit shall be subject to the following exit load: Exit load of 1.00% is payable if Units are redeemed / switched-out within 1 year from the date of allotment of units. No Exit Load is payable if Units are redeemed / switched-out after 1 year from the date of allotment. Any exit load charged (net off GST, if any) shall be credited back to the Scheme.

Average Maturity (Years)*	3.84
*Modified Duration (Years)^#**	3.0738
*Yield to Maturity^{^#$}**	7.07%
*Macaulay duration (Years)^#**	3.1882
*Calculated on amount invest in debt securities (including accrued interest), deployment of funds in TREPS & Reverse Repo and net receivables/payables. ^YTM is calculated on the basis of annualised yield for all securities. # All the above ratios are computed excluding investment in CDMDF units $ Applicable for both regular and direct plan

Equity and Equity Related Instruments
Name	Industry	% of Net Assets
Petronet LNG Limited	Gas	2.16%
Coal India Limited	Consumable Fuels	1.92%
ITC Limited	Diversified FMCG	1.82%
Power Grid Corporation of India Limited	Power	1.81%
Swaraj Engines Limited	Industrial Products	0.99%
Sub total		8.70%
Arbitrage and Special Situations
Name	Industry	% of Net Assets
UltraTech Cement Limited	Cement & Cement Products	1.15%
Reliance Industries Limited	Petroleum Products	1.07%
Kotak Mahindra Bank Limited	Banks	0.43%
Axis Bank Limited	Banks	0.30%
Tata Motors Limited	Automobiles	0.30%
ICICI Bank Limited	Banks	0.23%
Punjab National Bank	Banks	0.16%
Bank of Baroda	Banks	0.10%
HDFC Bank Limited	Banks	0.05%
GMR Airports Limited	Transport Infrastructure	0.05%
Steel Authority of India Limited	Ferrous Metals	0.03%
Tata Consultancy Services Limited	IT - Software	0.03%
Indian Oil Corporation Limited	Petroleum Products	0.01%
Jio Financial Services Limited	Finance	$0.00%
Sub total		3.91%
Special Situation
Name	Industry	% of Net Assets
Kesoram Industries Limited	Textiles & Apparels	0.02%
Sub total		0.02%
Total		12.63%
Units issued by REITs & InvITs
Listed / awaiting listing on the stock exchanges
Name	Industry	% of Net Assets
Brookfield India Real Estate Trust	Realty	4.07%
Embassy Office Parks REIT	Realty	3.98%
Mindspace Business Parks REIT	Realty	0.75%
Sub total		8.80%
Debt and Money Market Instruments
Name	Rating	% of Net Assets
Certificate of Deposit
Punjab National Bank (11/12/2025)	CRISIL A1+	2.14%
Axis Bank Limited (08/01/2026)	CRISIL A1+	1.93%
Kotak Mahindra Bank Limited (24/07/2025)	CRISIL A1+	1.40%
HDFC Bank Limited (11/07/2025)	CARE A1+	1.00%
ICICI Bank Limited (25/07/2025)	ICRA A1+	1.00%
HDFC Bank Limited (25/07/2025)	CARE A1+	1.00%
Axis Bank Limited (05/09/2025)	CRISIL A1+	0.99%
HDFC Bank Limited (18/12/2025)	CARE A1+	0.97%
Kotak Mahindra Bank Limited (09/01/2026)	CRISIL A1+	0.39%
Indian Bank (19/01/2026)	CRISIL A1+	0.39%
Kotak Mahindra Bank Limited (15/05/2025)	CRISIL A1+	0.20%
Kotak Mahindra Bank Limited (28/11/2025)	CRISIL A1+	0.19%
Canara Bank (05/12/2025)	CRISIL A1+	0.19%
Punjab National Bank (08/01/2026)	CRISIL A1+	0.19%
Kotak Mahindra Bank Limited (15/01/2026)	CRISIL A1+	0.19%
Sub total		12.17%
Corporate Bond
7.70% REC Ltd NCD Ser 234A (MD 31/08/2026)	ICRA AAA	1.43%
7.57% NABARD Sr 23G NCD (MD 19/03/2026)	CRISIL AAA	1.02%
7.50% NABARD Sr 24A NCD (MD 31/08/2026)	CRISIL AAA	1.02%
7.58% Power Fin Corp NCD Sr222 (MD15/01/2026)	CRISIL AAA	1.02%
7.68% IRFC NCD Series 173 (MD 24/11/2026)	CRISIL AAA	0.82%
7.37% Power Fin Corp NCD Sr 230 (MD 22/05/2026)	CRISIL AAA	0.82%
7.77% REC Ltd NCD Ser 227 A (MD 30/09/2026)	CRISIL AAA	0.62%
8.39% Power Finance Corp Ltd NCD SrC (MD19/04/25)	CRISIL AAA	0.61%
7.70% NABARD Ser 25A NCD (MD 30/09/2027)	ICRA AAA	0.41%
7.62% NABARD NCD Sr 23I (MD 31/01/2028)	CRISIL AAA	0.41%
7.87% India Grid Trust Ser Y (MD 24/02/2027)	CRISIL AAA	0.21%
7.64% REC Ltd NCD Ser 225 (MD 30/06/2026)	CRISIL AAA	0.20%
7.58% NABARD Sr 23H NCD (MD 31/07/2026)	CRISIL AAA	0.20%
7.4% National Hsg Bank Ltd NCD (16/07/2026)	CRISIL AAA	0.20%
7.7% India Grid Trust Ser 3 (MD 06/05/2028)	CRISIL AAA	0.20%
Sub total		9.19%
Government securities/State Development Loans (SDLs)
7.33% Maharashtra SDL (MD 31/05/2031)	Sovereign	2.08%
7.14% Karnataka SDL (MD 12/01/2032)	Sovereign	2.06%
7.76% Maharashtra SDL (MD 04/10/2030)	Sovereign	1.91%
7.7% Maharashtra SDL (MD 19/10/2030)	Sovereign	1.69%
7.83% Maharashtra SDL (MD 08/04/2030)	Sovereign	1.48%
7.72% Maharashtra SDL (MD 23/03/2032)	Sovereign	1.28%
7.78% Maharashtra SDL (MD 27/10/2030)	Sovereign	1.27%
7.7% Andhra Pradesh SDL (MD 22/02/2030)	Sovereign	1.26%
7.39% Tamilnadu SDL (MD 12/06/2032)	Sovereign	1.26%
6.9% Gujarat SDL (MD 31/03/2030)	Sovereign	1.23%
Other Government Securities	Sovereign	37.79%
Sub total		53.31%
Treasury Bills
364 Days Tbill (MD 21/11/2025)	Sovereign	0.20%
Sub total		0.20%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		0.68%
Sub total		0.68%
Corporate Debt Market Development Fund A2
Corporate Debt Market Development Fund - Class A2 Units		0.26%
Sub total		0.26%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		2.76%
Sub total		2.76%
Net Assets		100.00%

^@ Hedged by offsetting derivative position

Source: Internal sources

Dividend History - Monthly Income Distribution cum capital Withdrawal option (In INR)
Record date/ Payout Date	Direct		Regular			Regular	Direct	Regular	Direct
Record date/ Payout Date	Retail	Corporate	Retail	Corporate	Face Value	NAV per Unit (Ex IDCW)	NAV per Unit (Ex IDCW)	NAV per Unit (Cum IDCW)	NAV per Unit (Cum IDCW)
Apr 02, 2025	0.0594	0.0594	0.1083	0.1083	10.0000	10.8137	10.8616	10.9220	10.9209
Feb 24, 2025	0.0682	0.0682	0.0200	0.0200	10.0000	10.7097	10.7053	10.7296	10.7736
Jan 27, 2025	0.0275	0.0275	0.0378	0.0378	10.0000	10.7364	10.7787	10.7742	10.8062

Lumpsum Investment Performance (Compounded annual returns)
Date	Scheme		Tier I Benchmark	Additional Benchmark	Value of Investment of Rs. 10,000/-
Date	PPCHF (Regular)	PPCHF (Direct)	CRISIL Hybrid 85+15 Conservative Index	CRISIL 10 year Gilt Index	PPCHF (Regular)	PPCHF (Direct)	CRISIL Hybrid 85+15 Conservative Index	CRISIL 10 year Gilt Index
Since Inception (26 May, 2021)*	10.33%	10.66%	7.45%	5.29%	14,588	14,756	13,178	12,191
March 28, 2024 to March 28, 2025 (Last 1 Year)	9.81%	10.14%	8.55%	9.90%	10,981	11,014	10,855	10,990
March 31, 2022 to March 28, 2025 (Last 3 Years)	10.94%	11.27%	8.01%	7.26%	13,647	13,769	12,597	12,334

*Since inception returns are calculated on Rs. 10 (allotment price)
Note:

Different plans shall have different expense structures.
Scheme returns shown are for direct and regular plan.
Past performance may or may not be sustained in future and is not a guarantee of any future returns.
Data presented here is upto the last calendar month.
Greater than 1 year returns are CAGR returns.

1 Year Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Conservative Hybrid Fund - Reg - Growth	11.34%	19.36%	3.88%	4.37%
Parag Parikh Conservative Hybrid Fund - Dir - Growth	11.67%	19.72%	4.19%	4.38%
CRISIL Hybrid 85+15 Conservative Index	7.79%	13.91%	-0.31%	3.96%
3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Conservative Hybrid Fund - Reg - Growth	11.17%	12.02%	10.37%	0.38%
Parag Parikh Conservative Hybrid Fund - Dir - Growth	11.50%	12.35%	10.70%	0.38%
CRISIL Hybrid 85+15 Conservative Index	7.60%	8.12%	6.86%	0.25%
Returns are calculated since inception with daily rolling frequency for the 1 and 3 years period.

SIP Investment Performance (Assumption : 10,000/- is invested on the first of every month)
Date	Since Inception (26 May, 2021)	March 28, 2024 to March 31, 2025 (Last 1 Year)	March 31, 2022 to March 31, 2025 (Last 3 Years)
Total Amount Invested	4,70,000	1,20,000	3,60,000
Market value of Investment (Regular Plan)	5,84,961	1,24,645	4,28,734
Market value of Investment (Direct Plan)	5,88,684	1,24,847	4,30,820
(Regular Plan) Returns (Annualised) (%)	11.19%	7.32%	11.70%
(Direct Plan) Returns (Annualised) (%)	11.53%	7.64%	12.04%
CRISIL Hybrid 85+15 - ConservativeIndex Returns (Annualised) (%)	8.51%	7.25%	9.28%
Crisil 10 year Gilt Index Returns (Annualised) (%)	7.77%	10.48%	9.08%

Total number of units held in Parag Parikh Conservative Hybrid Fund as per SEBI vide its Master Circular For Mutual Funds dated June 27, 2024 (Alignment of interest of Designated Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes) as at Mar 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Conservative Hybrid Fund - Direct Plan Growth	3,13,115.15	46,51,669.68

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Conservative Hybrid Fund amounts to ₹ 9.69 Crores
of AUM as at Mar 31, 2025. For more details please visit the 'Scheme' section of our website

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Parag Parikh Arbitrage Fund

Invest Now

An open ended scheme investing in arbitrage opportunities

Factsheet - MARCH 2025

Name of the fund	Parag Parikh Arbitrage Fund (PPAF)
Investment Objective	The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and by investing the balance in debt and money market instruments. However, there is no assurance that the investment objective of the Scheme will be achieved and the Scheme does not assure or guarantee any returns.
Type of the scheme	An open ended scheme investing in arbitrage opportunities
Date of Allotment	2nd November 2023
Name of the Fund Managers	Mr. Rajeev Thakkar - Equity Fund Manager (Since Inception) Mr. Raunak Onkar - Equity Fund Manager (Since Inception) Mr. Raj Mehta - Debt Fund Manager (Since Inception) Mr. Rukun Tarachandani - Equity Fund Manager (Since Inception) Ms. Mansi Kariya - Co - Fund Manager - Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 0.65%* Direct Plan: 0.30%* *Including additional expenses and GST on management fees. Total Expense ratio is as on last business day of the month
Tier 1 Benchmark Index	Nifty 50 Arbitrage (TRI)
Additional Benchmark	CRISIL 1 Year T-Bill Index
Minimum Application / Additional Purchase Amount	New Purchase: ₹ 1000 and in multiples of ₹ 1 thereafter. Additional Purchase: ₹ 1000 and in multiples of ₹ 1 thereafter.
Minimum SIP Investment Amount	Monthly SIP: ₹ 1,000, and Quarterly SIP: ₹ 3,000

Assets Under Management (AUM) as on Mar 31, 2025	₹ 1,304.46 Crores
Average AUM for the Month	₹ 1,292.36 Crores

Net Asset Value (NAV) as on Mar 31, 2025
Regular Plan	11.0405
Direct Plan	11.0951

Entry Load	Not Applicable
Exit Load	In respect of each purchase / switch-in of units, an Exit Load of 0.25% is payable if Units are redeemed/ switched-out within 30 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 30 days from the date of allotment. Any exit load charged (net off GST, if any) shall be credited back to the Scheme. No exit load will be charged, in case of switch transactions between Plans. i.e Regular Plan and Direct Plan Any exit load charged (net off GST, if any) shall be credited back to the Scheme.

Avg maturity of the fund (Days)*	133.01
Modified Duration (Years)*	0.3379
*Yield to Maturity^{^$}**	7.00%
Macaulay duration (Years)*	0.3619
*Calculated on amount invest in debt securities (including accrued interest), deployment of funds in TREPS & Reverse Repo and net receivables/payables. ^YTM is calculated on the basis of annualised yield for all securities. $ Applicable for both regular and direct plan

Hedge Equity / Arbitrage*
Name	Industry	% of Net Assets
Reliance Industries Limited	Petroleum Products	5.43%
HDFC Bank Limited	Banks	4.45%
Axis Bank Limited	Banks	3.18%
Tata Steel Limited	Ferrous Metals	2.37%
Bank of Baroda	Banks	2.28%
ICICI Bank Limited	Banks	2.27%
Canara Bank	Banks	2.16%
State Bank of India	Banks	2.12%
Tata Power Company Limited	Power	2.06%
Punjab National Bank	Banks	2.06%
Other Equity		40.84%
Total		69.22%
Debt and Money Market Instruments
Name	Rating	% of Net Assets
Certificate of Deposit
ICICI Bank Limited (25/07/2025)	ICRA A1+	3.00%
Canara Bank (03/09/2025)	CRISIL A1+	1.86%
Union Bank of India (04/12/2025)	ICRA A1+	1.83%
Punjab National Bank (11/12/2025)	CRISIL A1+	1.83%
HDFC Bank Limited (18/12/2025)	CARE A1+	1.82%
National Bank For Agriculture and Rural Development (20/01/2026)	CRISIL A1+	1.81%
Kotak Mahindra Bank Limited (24/07/2025)	CRISIL A1+	1.50%
Bank of Baroda (12/09/2025)	IND A1+	1.11%
Kotak Mahindra Bank Limited (09/01/2026)	CRISIL A1+	1.09%
National Bank For Agriculture and Rural Development (05/02/2026)	CRISIL A1+	1.08%
Kotak Mahindra Bank Limited (15/05/2025)	CRISIL A1+	0.38%
Axis Bank Limited (05/06/2025)	CRISIL A1+	0.38%
Sub total		17.69%
Treasury Bill
Name	Rating	% of Net Assets
364 Days Tbill (MD 15/08/2025)	Sovereign	0.37%
Sub total		0.37%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		10.49%
Sub total		10.49%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		2.23%
Sub total		2.23%
Net Assets		100.00%

*Outstanding Derivative exposure - 69.55%

Source: Internal sources

Lumpsum Investment Performance (Compounded annual returns)
Date	Scheme		Benchmark	Index	Value of Investment of Rs. 10,000/-
Date	PPAF (Regular)	PPAF (Direct)	Nifty 50 Arbitrage (TRI)	CRISIL 1 Year T-Bill Index	PPAF (Regular)	PPAF (Direct)	Nifty 50 Arbitrage (TRI)	CRISIL 1 Year T-Bill Index
Since Inception (02 Nov, 2023)*	7.30%	7.68%	7.84%	7.43%	11,039	11,094	11,117	11,057
March 28, 2024 to March 28, 2025 (Last 1 Year)	7.16%	7.53%	7.65%	7.49%	10,716	10,753	10,765	10,749

*Since inception returns are calculated on Rs. 10 (allotment price)
Note:

Different plans shall have different expense structures.
Scheme returns shown are for direct and regular plan.
Past performance may or may not be sustained in future and is not a guarantee of any future returns.
Data presented here is upto the last calendar month.
Greater than 1 year returns are CAGR returns.

SIP Investment Performance (Assumption : 10,000/- is invested on the first of every month)
Date	Since Inception (02 Nov, 2023)	March 28, 2024 to March 28, 2025 (Last 1 Year)
Total Amount Invested	1,70,000	1,20,000
Market value of Investment (Regular)	1,79,020	1,24,484
Market value of Investment (Direct)	1,79,494	1,24,720
(Regular) Returns (Annualised) (%)	7.14%	7.06%
(Direct) Returns (Annualised) (%)	7.51%	7.44%
Nifty 500 (TRI) Returns (Annualised) (%)	7.93%	8.11%
Nifty 50 (TRI) Returns (Annualised) (%)	7.37%	7.32%

Total number of units held in Parag Parikh Arbitrage Fund as per SEBI vide its Master Circular For Mutual Funds dated June 27, 2024 (Alignment of interest of Designated Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes) as at Mar 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Arbitrage Fund - Direct Plan Growth	62,985.72	6,99,783.49

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Arbitrage Fund amounts to ₹ 56.62 Crores of AUM as at Mar 31, 2025.For more details please visit the 'Scheme' section of our website

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Parag Parikh Dynamic Asset Allocation Fund

Invest Now

An open ended dynamic asset allocation fund

Factsheet - MARCH 2025

Name of the fund	Parag Parikh Dynamic Asset Allocation Fund (PPDAAF)
Investment Objective	The investment objective of the Scheme is to generate income/ long-term capital appreciation by investing in equity, equity derivatives, fixed income instruments. The allocation between equity instruments and fixed income will be managed dynamically so as to provide investors with long term capital appreciation while managing downside risk. However, there is no assurance that the investment objective of the Scheme will be achieved and the Scheme does not assure or guarantee any returns.
Type of the scheme	An open ended dynamic asset allocation fund
Date of Allotment	27th February 2024
Name of the Fund Managers	Mr. Rajeev Thakkar - Equity Fund Manager (Since Inception) Mr. Raunak Onkar - Equity Fund Manager (Since Inception) Mr. Raj Mehta - Debt Fund Manager (Since Inception) Mr. Rukun Tarachandani - Equity Fund Manager (Since Inception) Ms. Mansi Kariya - Co - Fund Manager - Debt (Since Inception)
Month End Expense Ratio	Regular Plan: 0.64%* Direct Plan: 0.34%* *Including additional expenses and GST on management fees. Total Expense ratio is as on last business day of the month
Tier 1 Benchmark Index	CRISIL Hybrid 50+50 Moderate Index
Additional Benchmark	Nifty 50 TRI
Minimum Application / Additional Purchase Amount	Initial purchase - ₹ 5000 and any amount thereafter Additional Purchase: ₹ 500 and any amount thereafter
Minimum SIP Investment Amount	Monthly SIP: ₹ 1,000, and Quarterly SIP: ₹ 3,000

Assets Under Management (AUM) as on Mar 31, 2025	₹ 1,761.42 Crores
Average AUM for the Month	₹ 1,704.58 Crores

Net Asset Value (NAV) as on Mar 31, 2025
Regular Plan	11.0199
Direct Plan	11.0560
Regular Plan - Monthly IDCW:	10.2322
Direct Plan - Monthly IDCW:	10.3945

Entry Load	Not Applicable
Exit Load	In respect of each purchase / switch-in of Units, 10% of the units ("thelimit") may be redeemed without any exit load from the date of allotment. Any redemption or switch-out in excess of the limit shall be subject to thefollowing exit load: -Exit load of 1.00% is payable if Units are redeemed / switched-outwithin 1 year from the date of allotment of units. -No Exit Load is payable if Units are redeemed / switched-out after 1year from the date of allotment. Any exit load charged (net off GST, if any) shall be credited back to the Scheme.

Avg maturity of the fund (Years)*	3.88
*Modified Duration (Years)^#**	3.0656
*Yield to Maturity^{^#$}**	7.05%
*Macaulay duration (Years)^#**	3.1799
*Calculated on amount invest in debt securities (including accrued interest), deployment of funds in TREPS & Reverse Repo and net receivables/payables. ^YTM is calculated on the basis of annualised yield for all securities. # All the above ratios are computed excluding investment in CDMDF units $ Applicable for both regular and direct plan

Equity and Equity Related Instruments
Listed / awaiting listing on the stock exchanges
Name	Industry	% of Net Assets
Coal India Limited	Consumable Fuels	2.67%
Power Grid Corporation of India Limited	Power	2.53%
Petronet LNG Limited	Gas	2.64%
ITC Limited	Diversified FMCG	2.56%
Swaraj Engines Limited	Industrial Products	1.58%
Nesco Limited	Commercial Services & Supplies	0.98%
NIRLON LIMITED	Commercial Services & Supplies	0.17%
VST Industries Limited	Cigarettes & Tobacco Products	0.05%
Sub total		13.18%
Arbitrage and Special Situations
Reliance Industries Limited	Petroleum Products	4.54%
Bajaj Finance Limited	Finance	2.43%
UltraTech Cement Limited	Cement & Cement Products	1.80%
Tata Motors Limited	Automobiles	1.63%
Kotak Mahindra Bank Limited	Banks	1.62%
Axis Bank Limited	Banks	1.25%
ICICI Bank Limited	Banks	0.91%
HDFC Bank Limited	Banks	0.83%
Bharat Electronics Limited	Aerospace & Defense	0.68%
State Bank of India	Banks	0.60%
Others		7.23%
Sub total		23.52%
Special Situation
Kesoram Industries Limited	Textiles & Apparels	0.03%
Sub total		0.03%
Total		36.73%
Certificate of Deposit
Axis Bank Limited (16/07/2025)	CRISIL A1+	1.95%
ICICI Bank Limited (25/07/2025)	ICRA A1+	1.67%
Indian Bank (04/12/2025)	CRISIL A1+	1.35%
Punjab National Bank (11/12/2025)	CRISIL A1+	1.35%
HDFC Bank Limited (18/12/2025)	CARE A1+	1.35%
Axis Bank Limited (08/01/2026)	CRISIL A1+	0.81%
Kotak Mahindra Bank Limited (28/11/2025)	CRISIL A1+	0.54%
Punjab National Bank (10/07/2025)	CRISIL A1+	0.28%
Kotak Mahindra Bank Limited (24/07/2025)	CRISIL A1+	0.28%
HDFC Bank Limited (04/11/2025)	CARE A1+	0.27%
Sub total		9.85%
Corporate Bond/NCD
7.68% Indian Railway Finance Corporation Limited (24/11/2026) **	CRISIL AAA	1.43%
7.59% National Hsg Bank NCD MD(14/07/2027)	CRISIL AAA	0.86%
7.58% NABARD Sr 23H NCD (MD 31/07/2026)	CRISIL AAA	0.85%
7.37% Power Fin Corp NCD Sr 230 (MD 22/05/2026)	CRISIL AAA	0.85%
7.77% REC Ltd NCD Ser 227 A (MD 30/09/2026)	CRISIL AAA	0.57%
7.70% REC Ltd NCD Ser 234A (MD 31/08/2026)	ICRA AAA	0.57%
7.4% National Hsg Bank Ltd NCD (16/07/2026)	CRISIL AAA	0.57%
8.39% Power Finance Corp Ltd NCD SrC (MD19/04/25)	CRISIL AAA	0.57%
7.25% NABARD Sr 23C NCD (MD 01/08/2025)	CRISIL AAA	0.57%
7.95% REC Ltd NCD (MD 12/03/2027)	CRISIL AAA	0.29%
7.70% NABARD Ser 25A NCD (MD 30/09/2027)	ICRA AAA	0.29%
7.87% India Grid Trust Ser Y (MD 24/02/2027)	CRISIL AAA	0.29%
Sub total		7.71%
Government securities/State Development Loans (SDLs)
7.7% Maharashtra SDL (MD 08/03/2031)	Sovereign	1.47%
7.67% Tamilnadu SDL (MD 13/12/2030)	Sovereign	1.47%
7.39% Tamilnadu SDL (MD 12/06/2032)	Sovereign	1.46%
7.33% Maharashtra SDL (MD 31/05/2031)	Sovereign	1.45%
6.98% Tamilnadu SDL (MD 14/07/2031)	Sovereign	1.42%
7.83% Maharashtra SDL (MD 08/04/2030)	Sovereign	1.18%
7.32% GOI (MD 13/11/2030)	Sovereign	1.18%
7.69% Maharashtra SDL (MD 15/03/2031)	Sovereign	1.18%
7.49% Maharashtra SDL (MD 12/04/2030)	Sovereign	1.16%
7.17% Tamilnadu SDL (MD 27/02/2033)	Sovereign	1.15%
Other Government Securities	Sovereign	25.01%
Sub total		38.13%
Treasury Bills
364 Days Tbill (MD 15/08/2025)	Sovereign	0.28%
364 Days Tbill (MD 21/11/2025)	Sovereign	0.27%
Sub total		0.55%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		3.41%
Sub total		3.41%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		3.62%
Sub total		3.62%
Net Assets		100.00%

^@ Hedged by offsetting derivative position

Source: Internal sources

Source: Internal sources

Date	Scheme		Benchmark	Index	Value of Investment of Rs. 10,000/-
	PPDAAF (Regular)	PPDAAF (Direct)	CRISIL Hybrid 50+50 - Moderate Index	Nifty 50 TRI	PPDAAF (Regular)	PPDAAF (Direct)	CRISIL Hybrid 50+50 - Moderate Index	Nifty 50 TRI
Since Inception (27 Feb, 2024)*	9.37%	9.69%	7.81%	6.70%	11,017	11,053	10,848	10,727
March 28, 2024 to March 28, 2025 (Last 1 Year)	9.97%	10.31%	7.78%	6.65%	10,997	11,031	10,778	10,665

*Since inception returns are calculated on Rs. 10 (allotment price)
Note:

Different plans shall have different expense structures.
Scheme returns shown are for direct and regular plan.
Past performance may or may not be sustained in future and is not a guarantee of any future returns.
Data presented here is upto the last calendar month.
Greater than 1 year returns are CAGR returns.

Dividend History - Monthly Income Distribution cum capital Withdrawal option (In INR)
Record date/ Payout Date	Direct		Regular			Regular	Direct	Regular	Direct
Record date/ Payout Date	Retail	Corporate	Retail	Corporate	Face Value	NAV per Unit (Ex IDCW)	NAV per Unit (Ex IDCW)	NAV per Unit (Cum IDCW)	NAV per Unit (Cum IDCW)
Apr. 02, 2025	0.1931	0.1931	0.1847	0.1847	10.0000	10.0803	10.2348	10.2650	10.4279
Feb. 24, 2025	NA	NA	NA	NA	10.0000	10.0376	10.1938	10.0376	10.1938
Jan. 27, 2025	0.0094	0.0094	0.0070	0.0070	10.0000	10.0803	10.2348	10.0872	10.2442

SIP Investment Performance (Assumption : 10,000/- is invested on the first of every month)
Date	Since Inception (27 Feb, 2024)	March 28, 2024 to March 28, 2025 (Last 1 Year)
Total Amount Invested	1,40,000	1,20,000
Market value of Investment (Regular Plan)	1,46,389	1,24,361
Market value of Investment (Direct Plan)	1,46,663	1,24,564
(Regular Plan) Returns (Annualised) (%)	7.49%	6.86%
(Direct Plan) Returns (Annualised) (%)	7.82%	7.19%
CRISIL Hybrid 50+50 - Moderate Index (Annualised) (%)	3.75%	2.41%
Nifty 50 TRI (Annualised) (%)	0.77%	-1.16%

PPFAS

Total number of units held in Parag Parikh Dynamic Asset Allocation Fund as per SEBI vide its Master Circular For Mutual Funds dated June 27, 2024 (Alignment of interest of Designated Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes) as at Mar 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Dynamic Asset Allocation Fund - Direct Plan Growth	71,431.33	7,94,209.10

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Dynamic Asset Allocation Fund amounts to ₹ 10.11 Crores of AUM as at Mar 31, 2025.For more details please visit the 'Scheme' section of our website

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Parag Parikh Flexi Cap Fund

Invest Now

(Formerly known as Parag Parikh Long Term Equity Fund)
An open ended dynamic Equity scheme investing across large cap, mid cap, small cap stocks.

Factsheet - MARCH 2025

Name of the fund	Parag Parikh Flexi Cap Fund (PPFCF)
Investment Objective	To seek to generate long-term capital growth from an actively managed portfolio primarily of Equity and Equity Related Securities. Scheme shall invest in Indian equities, foreign equities and related instruments and debt securities.
Type of the scheme	An open ended dynamic Equity scheme investing across large cap, mid cap, small cap Stocks.
Date of Allotment	May 24, 2013
Name of the Fund Managers	Mr. Rajeev Thakkar - Equity Fund Manager (Since Inception) Mr. Raunak Onkar - Dedicated Fund Manager for Overseas Securities (Since Inception) Mr. Raj Mehta - Debt Fund Manager (Since January 27, 2016) Mr. Rukun Tarachandani - Equity Fund Manager (Since May 16, 2022) Ms. Mansi Kariya - Co - Fund Manager - Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 1.33%* Direct Plan: 0.63%* *Including additional expenses and GST on management fees. Total Expense ratio is as on last business day of the month
Tier 1 Benchmark Index	NIFTY 500 (TRI)
Additional Benchmark	NIFTY 50 (TRI)
Minimum Application / Additional Purchase Amount	New Purchase: ₹ 1,000 Additional Purchase: ₹ 1,000
Minimum SIP Investment Amount	Monthly SIP: ₹ 1,000, Quarterly SIP: ₹ 3,000

Assets Under Management (AUM) as on Mar 31, 2025	₹ 93,440.89 Crores
Average AUM for the Month	₹ 90,727.45 Crores

Net Asset Value (NAV) as on Mar 31, 2025
Regular Plan:	78.8834
Direct Plan:	85.8001

Entry Load	Not Applicable
Exit Load	In respect of each purchase / switch-in of Units, 10% of the units ("the limit") may be redeemed without any exit load from the date of allotment. Any redemption or switch-out in excess of the limit shall be subject to the following exit load: 2.00% if the investment is redeemed on or before 365 days from the date of allotment of units. 1.00% if the investment is redeemed after 365 days but on or before 730 days from the date of allotment of units. No Exit Load will be charged if investment is redeemed after 730 days from the date of allotment of units. No exit load will be charged, in case of switch transactions between Regular Plan and Direct Plan of the Scheme for existing as well as prospective investors. Above exit load structure is applicable prospectively, for all investments (including SIP/STP and SWP registered) with effect from 15th Nov 2021. Any exit load charged (net off GST, if any) shall be credited back to the Scheme.

Beta	0.63
Standard Deviation	10.64%
Sharpe Ratio	0.85
Portfolio Turnover (excl Equity Arbitrage)	12.98%
Portfolio Turnover (incl Equity Arbitrage)	26.47%
- Above figures are annualised. - Risk free rate assumed to be 7.20% (FBIL Overnight MIBOR as on Mar 31, 2025)

Portfolio Disclosure
Core Equity
Name	Industry	% of Net Assets
HDFC Bank Limited	Banks	8.38%
Bajaj Holdings & Investment Limited	Finance	7.10%
Coal India Limited	Consumable Fuels	6.01%
Power Grid Corporation of India Limited	Power	5.99%
ICICI Bank Limited	Banks	5.05%
Kotak Mahindra Bank Limited	Banks	4.59%
ITC Limited	Diversified FMCG	4.44%
Maruti Suzuki India Limited	Automobiles	3.72%
Axis Bank Limited	Banks	3.21%
HCL Technologies Limited	IT - Software	3.19%
Mahindra & Mahindra Limited	Automobiles	2.97%
Infosys Limited	IT - Software	1.56%
Dr. Reddy's Laboratories Limited	Pharmaceuticals & Biotechnology	1.24%
Cipla Limited	Pharmaceuticals & Biotechnology	1.23%
Zydus Lifesciences Limited	Pharmaceuticals & Biotechnology	1.23%
Balkrishna Industries Limited	Auto Components	1.15%
Indian Energy Exchange Limited	Capital Markets	0.83%
Motilal Oswal Financial Services Limited	Capital Markets	0.72%
Multi Commodity Exchange of India Limited	Capital Markets	0.45%
Narayana Hrudayalaya Limited	Healthcare Services	0.36%
IPCA Laboratories Limited	Pharmaceuticals & Biotechnology	0.31%
Central Depository Services (India) Limited	Capital Markets	0.30%
EID Parry India Limited	Food Products	0.24%
ITC Hotels Limited	Leisure Services	0.21%
ICRA Limited	Capital Markets	0.17%
Maharashtra Scooters Limited	Finance	0.10%
Swaraj Engines Limited	Industrial Products	0.02%
Total		64.77%
Arbitrage and Special Situations
^@Reliance Industries Limited	Petroleum Products	0.89%
^@Bajaj Finance Limited	Finance	0.27%
^@Tata Consultancy Services Limited	IT - Software	0.22%
^@Tata Motors Limited	Telecom - Services	0.14%
^@Larsen & Toubro Limited	Banks	0.12%
^@Others		0.94%
Sub total		2.58%
Total		67.35%
Overseas Securities, IDRS and ADRs
Meta Platforms Registered Shares A	Computer Software	3.12%
Alphabet Inc A	Computer Software	2.67%
Microsoft Corp	Computer Software	2.52%
Amazon Com Inc	Catalog/Specialty Distribution	2.39%
Total		10.70%
Debt and Money Market Instruments
Certificate of Deposit	Rating
ICICI Bank Limited (14/11/2025)	ICRA A1+	0.61%
Punjab National Bank (05/12/2025)	CRISIL A1+	0.61%
National Bank For Agriculture and Rural Development (22/01/2026)	CRISIL A1+	0.53%
Union Bank of India (26/11/2025)	ICRA A1+	0.51%
Bank of Baroda (15/05/2025)	IND A1+	0.50%
National Bank For Agriculture and Rural Development (20/01/2026)	CRISIL A1+	0.48%
Axis Bank Limited (15/07/2025)	CRISIL A1+	0.39%
Indian Bank (04/12/2025)	CRISIL A1+	0.36%
Canara Bank (02/09/2025)	CRISIL A1+	0.31%
HDFC Bank Limited (10/10/2025)	CARE A1+	0.31%
Kotak Mahindra Bank Limited (11/12/2025)	CRISIL A1+	0.31%
Canara Bank (12/12/2025)	CRISIL A1+	0.31%
Indian Bank (06/03/2026)	CRISIL A1+	0.30%
ICICI Bank Limited (27/06/2025)	ICRA A1+	0.29%
Bank of Baroda (12/09/2025)	IND A1+	0.23%
Indian Bank (20/08/2025)	CRISIL A1+	0.21%
Kotak Mahindra Bank Limited (22/08/2025)	CRISIL A1+	0.21%
HDFC Bank Limited (04/12/2025)	CRISIL A1+	0.20%
Kotak Mahindra Bank Limited (04/12/2025)	CRISIL A1+	0.20%
Punjab National Bank (08/01/2026)	CRISIL A1+	0.20%
Bank of Baroda (13/01/2026)	IND A1+	0.20%
Canara Bank (04/03/2026)	CRISIL A1+	0.20%
Punjab National Bank (18/03/2026)	CRISIL A1+	0.20%
HDFC Bank Limited (11/07/2025)	CARE A1+	0.18%
Axis Bank Limited (05/06/2025)	CRISIL A1+	0.16%
Axis Bank Limited (10/10/2025)	CRISIL A1+	0.15%
Axis Bank Limited (09/10/2025)	CRISIL A1+	0.13%
HDFC Bank Limited (18/12/2025)	CARE A1+	0.13%
Union Bank of India (18/12/2025)	IND A1+	0.13%
Bank of Baroda (05/05/2025)	IND A1+	0.11%
Indian Bank (23/05/2025)	CRISIL A1+	0.11%
Kotak Mahindra Bank Limited (24/07/2025)	CRISIL A1+	0.10%
HDFC Bank Limited (22/08/2025)	CARE A1+	0.10%
Axis Bank Limited (22/08/2025)	CRISIL A1+	0.10%
HDFC Bank Limited (31/10/2025)	CRISIL A1+	0.10%
Axis Bank Limited (13/11/2025)	CRISIL A1+	0.10%
Kotak Mahindra Bank Limited (26/11/2025)	CRISIL A1+	0.10%
Canara Bank (04/12/2025)	CRISIL A1+	0.10%
Union Bank of India (04/12/2025)	ICRA A1+	0.10%
Union Bank of India (05/12/2025)	ICRA A1+	0.10%
Kotak Mahindra Bank Limited (15/01/2026)	CRISIL A1+	0.10%
Union Bank of India (16/01/2026)	ICRA A1+	0.10%
Canara Bank (03/02/2026)	CRISIL A1+	0.10%
Indian Bank (06/11/2025)	CRISIL A1+	0.05%
Union Bank of India (29/01/2026)	IND A1+	0.05%
ICICI Bank Limited (25/07/2025)	ICRA A1+	0.03%
Total		10.10%
T-Bill	Rating
364 Days Tbill (MD 04/12/2025)	Sovereign	0.31%
364 Days Tbill (MD 29/01/2026)	Sovereign	0.20%
364 Days Tbill (MD 21/11/2025)	Sovereign	0.11%
364 Days Tbill (MD 07/08/2025)	Sovereign	0.10%
364 Days Tbill (MD 27/11/2025)	Sovereign	0.05%
TREPS Including Cash & Cash Equivalent and Net Current Asset	Cash & Cash Equivalent	11.08%
Sub total		11.85%
Net Assets		100.00%

^@ Hedged by offsetting derivative position

Lumpsum Investment Performance (Compounded annual returns)
Date	Scheme	Scheme	Tier I Benchmark	Additional Benchmark	Value of Investment of Rs. 10,000/-
Date	PPFCF (Regular)	PPFCF (Direct)	Nifty 500 (TRI)	Nifty 50 (TRI)	PPFCF (Regular)	PPFCF (Direct)	Nifty 500 (TRI)	Nifty 50 (TRI)
Since Inception (24 May, 2013)*	19.04%	19.89%	14.93%	13.63%	78,922	85,837	52,019	45,478
March 28, 2024 to March 28, 2025 (Last 1 Year)	13.85%	14.65%	6.37%	6.65%	11,385	11,465	10,637	10,665
March 31, 2022 to March 28, 2025 (Last 3 Years)	16.88%	17.83%	13.89%	11.77%	15,952	16,346	14,761	13,956
March 31, 2020 to March 28, 2025 (Last 5 Years)	30.35%	31.50%	26.27%	23.72%	37,573	39,269	32,055	28,957
March 31, 2015 to March 28, 2025 (Last 10 Years)	17.07%	17.95%	13.08%	12.08%	48,342	52,118	34,172	31,293

*Since inception returns are calculated on Rs. 10 (allotment price)
Note:

Different plans shall have different expense structures.
Scheme returns shown are for direct and regular plan.
Past performance may or may not be sustained in future and is not a guarantee of any future returns.
Greater than 1 year returns are CAGR returns.
Data presented here is upto the last calendar month.

SIP Investment Performance (Assumption : 10,000/- is invested on the first of every month)
Date	Since Inception (24 May, 2013)	March 28, 2024 to March 28, 2025 (Last 1 Year)	March 31, 2022 to March 28, 2025 (Last 3 Years)	March 31, 2020 to March 28, 2025 (Last 5 Years)	March 31, 2015 to March 28, 2025 (Last 10 Years)
Total Amount Invested	14,30,000	1,20,000	3,60,000	6,00,000	12,00,000
Market value of Investment (Regular)	48,04,063	1,22,564	4,83,031	10,13,154	33,10,663
Market value of Investment (Direct)	51,03,945	1,23,032	4,89,265	10,38,948	34,85,239
(Regular) Returns (Annualised) (%)	18.93%	4.02%	20.08%	21.10%	19.27%
(Direct) Returns (Annualised) (%)	19.84%	4.76%	21.00%	22.14%	20.23%
Nifty 500 (TRI) Returns (Annualised) (%)	14.88%	-6.14%	14.18%	17.27%	15.08%
Nifty 50 (TRI) Returns (Annualised) (%)	13.71%	-1.16%	12.35%	15.14%	14.01%

3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	18.09%	36.29%	0.07%	5.85%
Parag Parikh Flexi Cap Fund - Direct - Growth	17.98%	37.64%	0.74%	6.03%
Tier I Benchmark Index - Nifty 500 TRI	14.72%	33.50%	-6.31%	5.89%
5 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	17.94%	32.75%	3.44%	4.81%
Parag Parikh Flexi Cap Fund - Direct - Growth	18.82%	33.93%	4.09%	4.95%
Tier I Benchmark Index - Nifty 500 TRI	13.90%	28.87%	-1.05%	4.47%
10 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	18.64%	20.60%	16.35%	0.87%
Parag Parikh Flexi Cap Fund - Direct - Growth	19.51%	21.48%	17.23%	0.86%
Tier I Benchmark Index - Nifty 500 TRI	15.06%	17.02%	11.71%	1.14%
- Returns are calculated since inception with daily rolling frequency for the 3, 5 and 10 years period. (PPFCF)

Source: Internal sources
Value of Rs 100 invested in Scheme/Benchmark indices

Note: Fresh Investment in foreign securities were temporarily suspended from February 2, 2022. Further, SEBI vide its letter SEBI/HO/OW/IMD-II/DOF3/P/25095/2022 dated June 17, 2022 has permitted the AMCs to resume subscription and make investments in overseas funds / securities upto the headroom available without breaching the overseas investment limit as of February 01, 2022.

Total number of units held in Parag Parikh Flexi Cap Fund as per SEBI vide its Master Circular For Mutual Funds dated June 27, 2024 (Alignment of interest of Designated Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes) as at Mar 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Flexi Cap Fund - Direct Plan	15,61,016.20	13,20,38,399.02

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Flexi Cap Fund amounts to ₹ 459.50 Crores of AUM as at Mar 31, 2025.For more details please visit the 'Scheme' section of our website

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Parag Parikh ELSS Tax Saver Fund

Invest Now

An open ended equity linked savings scheme with a statutory lock in of 3 years and tax benefit.

Factsheet - MARCH 2025

Name of the fund	Parag Parikh ELSS Tax Saver Fund (PPTSF)
Investment Objective	The investment objective of the Scheme is to generate long-term capital appreciation through a diversified portfolio of equity and equity related instruments. (80% of total assets in accordance with Equity Linked Saving Scheme, 2005 notified by Ministry of Finance) However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.
Type of the scheme	An open ended equity linked savings scheme with a statutory lock in of 3 years and tax benefit.
Date of Allotment	July 24, 2019
Name of the Fund Managers	Mr. Rajeev Thakkar - Equity Fund Manager (Since Inception) Mr. Raunak Onkar - Co Fund Manager (Since Inception) Mr. Raj Mehta - Debt Fund Manager (Since Inception) Mr. Rukun Tarachandani - Equity Fund Manager (Since May 16, 2022) Ms. Mansi Kariya - Co - Fund Manager - Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 1.73%* Direct Plan: 0.63%* *Including additional expenses and GST on management fees. Total Expense ratio is as on last business day of the month
Tier 1 Benchmark Index	NIFTY 500 (TRI)
Additional Benchmark	NIFTY 50 (TRI)
Minimum Application / Additional Purchase Amount	New Purchase: ₹ 500 and in multiples of ₹ 500 Additional Purchase: ₹ 500 and in multiples of ₹ 500
Minimum SIP Investment Amount	Monthly SIP: ₹ 1,000, Quarterly SIP: ₹ 3,000

Assets Under Management (AUM) as on Mar 31, 2025	₹ 4,905.72 Crores
Average AUM for the Month	₹ 4,673.77 Crores

Net Asset Value (NAV) as on Mar 31, 2025
Regular Plan	30.0605
Direct Plan	32.2007

Entry Load	Not Applicable
Exit Load	NIL

Beta	0.65
Standard Deviation	10.52%
Sharpe Ratio	0.91
Portfolio Turnover	15.31%
- Above figures are annualised. - Risk free rate assumed to be 7.20% (FBIL Overnight MIBOR as on Mar 31, 2025)

Core Equity
Name	Industry	% of Net Assets
Bajaj Holdings & Investment Limited	Finance	8.62%
HDFC Bank Limited	Banks	8.11%
Power Grid Corporation of India Limited	Power	6.25%
Coal India Limited	Consumable Fuels	5.96%
Maharashtra Scooters Limited	Finance	5.74%
ICICI Bank Limited	Banks	4.93%
Kotak Mahindra Bank Limited	Banks	4.52%
ITC Limited	Diversified FMCG	4.48%
Infosys Limited	IT - Software	3.81%
HCL Technologies Limited	IT - Software	3.80%
Maruti Suzuki India Limited	Automobiles	3.74%
Mahindra & Mahindra Limited	Automobiles	3.24%
Axis Bank Limited	Banks	3.09%
Wipro Limited	IT - Software	2.64%
Tata Consultancy Services Limited	IT - Software	2.50%
Balkrishna Industries Limited	Auto Components	1.29%
Dr. Reddy's Laboratories Limited	Pharmaceuticals & Biotechnology	1.24%
Zydus Lifesciences Limited	Pharmaceuticals & Biotechnology	1.23%
Cipla Limited	Pharmaceuticals & Biotechnology	1.23%
Motilal Oswal Financial Services Limited	Capital Markets	0.68%
CMS Info System Limited	Commercial Services & Supplies	0.67%
EID Parry India Limited	Food Products	0.36%
Narayana Hrudayalaya Limited	Healthcare Services	0.36%
Multi Commodity Exchange of India Limited	Capital Markets	0.34%
IPCA Laboratories Limited	Pharmaceuticals & Biotechnology	0.34%
Indian Energy Exchange Limited	Capital Markets	0.31%
Central Depository Services (India) Limited	Capital Markets	0.26%
Swaraj Engines Limited	Industrial Products	0.25%
ITC Hotels Limited	Leisure Services	0.21%
CCL Products (India) Limited	Agricultural Food & other Products	0.20%
VST Industries Limited	Cigarettes & Tobacco Products	0.14%
ICRA Limited	Capital Markets	0.07%
Total		80.61%
Debt and Money Market Instruments
Certificate of Deposit	Rating
HDFC Bank Limited (11/07/2025)	CARE A1+	1.00%
Axis Bank Limited (15/07/2025)	CRISIL A1+	1.00%
Union Bank of India (26/11/2025)	ICRA A1+	0.97%
Bank of Baroda (13/01/2026)	IND A1+	0.97%
Kotak Mahindra Bank Limited (15/01/2026)	CRISIL A1+	0.96%
Punjab National Bank (10/07/2025)	CRISIL A1+	0.50%
Kotak Mahindra Bank Limited (24/07/2025)	CRISIL A1+	0.50%
ICICI Bank Limited (25/07/2025)	ICRA A1+	0.50%
Indian Bank (20/08/2025)	CRISIL A1+	0.50%
Canara Bank (02/09/2025)	CRISIL A1+	0.49%
Canara Bank (03/09/2025)	CRISIL A1+	0.49%
ICICI Bank Limited (14/11/2025)	ICRA A1+	0.49%
Indian Bank (04/12/2025)	CRISIL A1+	0.49%
Punjab National Bank (08/01/2026)	CRISIL A1+	0.48%
National Bank For Agriculture and Rural Development (20/01/2026)	CRISIL A1+	0.48%
National Bank For Agriculture and Rural Development (22/01/2026)	CRISIL A1+	0.48%
HDFC Bank Limited (06/02/2026)	CRISIL A1+	0.48%
National Bank For Agriculture and Rural Development (17/02/2026)	ICRA A1+	0.48%
Total		11.26%
Treasury Bill
364 Days Tbill (MD 21/11/2025)	Sovereign	0.10%
TREPS Including Cash & Cash Equivalent and Net Current Asset	Cash & Cash Equivalent	8.03%
Net Assets		100.00%

Lumpsum Investment Performance (Compounded annual returns)
Date	Scheme	Tier I Benchmark	Additional Benchmark	Value of Investment of Rs. 10,000/-
Date	PPTSF (Regular)	PPTSF (Direct)	Nifty 500 (TRI)	Nifty 50 (TRI)	PPTSF (Regular)	PPTSF (Direct)	Nifty 500 (TRI)	Nifty 50 (TRI)
Since Inception (24 July, 2019)*	21.37%	22.85%	17.23%	15.12%	30,061	32,199	24,682	22,257
March 28, 2024 to March 28, 2025 (Last 1 Year)	14.10%	15.35%	6.37%	6.65%	11,410	11,535	10,637	10,665
March 31, 2022 to March 28, 2025 (Last 3 Years)	17.57%	18.96%	13.89%	11.77%	16,236	16,820	14,761	13,956
March 31, 2020 to March 28, 2025 (Last 5 Years)	29.24%	30.79%	26.27%	23.72%	36,006	38,221	32,055	28,957

*Since inception returns are calculated on Rs. 10 (allotment price)
Note:

Different plans shall have different expense structures.
Scheme returns shown are for direct and regular plan.
Past performance may or may not be sustained in future and is not a guarantee of any future returns.
Data presented here is upto the last calendar month.
Greater than 1 year returns are CAGR returns.

SIP Investment Performance (Assumption : 10,000/- is invested on the first of every month)
Date	Since Inception (24 July, 2019)	March 28, 2024 to March 28, 2025 (Last 1 Year)	March 31, 2022 to March 28, 2025 (Last 3 Years)	March 31, 2020 to March 28, 2025 (Last 5 Years)
Total Amount Invested	6,90,000	1,20,000	3,60,000	6,00,000
Market value of Investment	12,57,474	1,23,098	4,69,295	9,97,531
Market value of Investment (Direct)	13,11,358	1,23,836	4,78,334	10,33,816
(Regular) Returns (Annualised) (%)	20.84%	4.86%	18.02%	20.46%
(Direct) Returns (Annualised) (%)	22.32%	6.03%	19.38%	21.94%
Nifty 500 (TRI) Returns (Annualised) (%)	17.39%	-6.14%	14.18%	17.27%
Nifty 50 (TRI) Returns (Annualised) (%)	15.26%	-1.16%	12.35%	15.14%

3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh ELSS Tax Saver Fund - Regular - Growth	22.49%	35.78%	14.93%	3.85%
Parag Parikh ELSS Tax Saver Fund - Direct - Growth	24.02%	37.51%	16.31%	3.93%
Tier I Benchmark Index - Nifty 500 TRI	19.72%	33.50%	11.67%	3.90%
5 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh ELSS Tax Saver Fund - Regular - Growth	23.77%	30.79%	21.52%	1.66%
Parag Parikh ELSS Tax Saver Fund - Direct - Growth	25.28%	32.36%	23.01%	1.68%
Tier I Benchmark Index - Nifty 500 TRI	20.49%	28.87%	16.89%	2.36%
- Returns are calculated since inception with daily rolling frequency for the 3 and 5 years period. (PPTSF)

Total number of units held in Parag Parikh ELSS Tax Saver Fund as per SEBI vide its Master Circular For Mutual Funds dated June 27, 2024 (Alignment of interest of Designated Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes) as at Mar 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh ELSS Tax Saver Fund - Direct Plan	1,88,997.88	59,90,797.11

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh ELSS Tax Saver Fund amounts to ₹ 63.93 Crores of AUM as at Mar 31, 2025.For more details please visit the 'Scheme' section of our website

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Parag Parikh Liquid Fund

Invest Now

An Open ended Liquid scheme. A Relatively Low Interest Rate Risk and Relatively low Credit Risk

Factsheet - MARCH 2025

Name of the fund	Parag Parikh Liquid Fund (PPLF)
Investment Objective	To deliver reasonable market related returns with lower risk and high liquidity through judicious investments in money market and debt instruments. However, there is no assurance that the investment objective of the scheme will be achieved and the scheme does not assure or guarantee any returns.
Type of the scheme	An Open ended Liquid scheme. A Relatively Low Interest Rate Risk and Relatively low Credit Risk
Date of Allotment	May 11, 2018
Name of the Fund Managers	Mr. Raj Mehta - Debt Fund Manager (Since Inception) Ms. Mansi Kariya - Co - Fund Manager - Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 0.26%* Direct Plan: 0.16%* *Including additional expenses and GST on management fees. Total Expense ratio is as on last business day of the month
Scheme Rating	[ICRA]A1+mfs/CareA1+mfs
Tier 1 Benchmark Index	CRISIL Liquid Debt A-I Index
Additional Benchmark	CRISIL 1 Year T-Bill index
Minimum Application / Additional Purchase Amount	New Purchase: ₹ 5,000 Additional Purchase: ₹ 1,000
Minimum SIP Investment Amount	Monthly SIP: ₹ 1,000, Quarterly SIP: ₹ 3,000

Assets Under Management (AUM) as on Mar. 31, 2025	₹ 2,493.98 Crores
Average AUM for the Month	₹ 2,486.46 Crores

Plan	Direct	Regular
Growth	1435.9800	1426.0068
Daily Reinvestment of Income Distribution cum capital withdrawal option	1000.5756	1000.5756
Weekly Reinvestment of Income Distribution cum capital withdrawal option	1001.0000	1001.0000
Monthly Income Distribution cum capital withdrawal option	1009.8961	1009.7196

Record date/ Payout Date	Direct		Regular			Regular	Direct	Regular	Direct
Dividend History - Monthly Income Distribution cum capital Withdrawal option (In INR)
Record date/ Payout Date	Retail	Corporate	Retail	Corporate	Face Value	NAV per Unit (Ex IDCW)	NAV per Unit (Ex IDCW)	NAV per Unit (Cum IDCW)	NAV per Unit (Cum IDCW)
Apr 02, 2025	7.4737	7.4737	7.3716	7.3716	1,000	1,003	1,003	1010.3716	1010.4737
Feb 24, 2025	5.3339	5.3339	5.2561	5.2561	1,000	1,003	1,003	1008.2561	1008.3339
Jan 27, 2025	5.3442	5.3442	5.2672	5.2672	1,000	1,003	1,003	1008.2672	1008.3442

Entry Load	Not Applicable
Exit Load
* For purpose of levying exit load, if subscription (application & funds) is received within cut-off time on a day, Day 1 shall be considered to be the same day, else the day after the date of allotment of units shall be considered as Day 1. Any exit load charged (net off GST, if any) shall be credited back to the Scheme.

Avg maturity of the fund (days)	40.65
Modified duration (Years)^#	0.1020
Yield to Maturity^#^$	6.79%
Macaulay Duration (Years)^#	0.1087
* Computed on the invested amount # All the above ratios are computed excluding investment in CDMDF units $ Applicable for both regular and direct plan

Source: Internal sources

Treasury Bills
Name	Rating	% of Net Assets
91 Days Tbill (MD 15/05/2025)	Sovereign	4.97%
91 Days Tbill (MD 17/04/2025)	Sovereign	4.00%
364 Days Tbill (MD 02/05/2025)	Sovereign	3.99%
91 Days Tbill (MD 05/06/2025)	Sovereign	2.97%
364 Days Tbill (MD 03/04/2025)	Sovereign	2.00%
91 Days Tbill (MD 10/04/2025)	Sovereign	2.00%
91 Days Tbill (MD 01/05/2025)	Sovereign	1.99%
182 Days Tbill (MD 08/05/2025)	Sovereign	1.99%
364 Days Tbill (MD 19/06/2025)	Sovereign	1.98%
182 Days Tbill (MD 29/05/2025)	Sovereign	1.79%
182 Days Tbill (MD 10/04/2025)	Sovereign	1.00%
182 Days Tbill (MD 01/05/2025)	Sovereign	1.00%
182 Days Tbill (MD 12/06/2025)	Sovereign	0.99%
91 Days Tbill (MD 26/06/2025)	Sovereign	0.99%
Sub Total		31.66%
Government Securities
5.91% Kerala SDL (MD 20/05/2025)	Sovereign	4.01%
5.95% Tamilnadu SDL (MD 13/05/2025)	Sovereign	1.00%
Sub Total		5.01%
Non Convertible Debentures
7.16% Power Fin Corp Ltd NCD Sr199B(MD 24/04/2025)	CRISIL AAA	1.00%
Sub Total		1.00%
Commercial Paper
National Bank For Agriculture and Rural Development (23/04/2025)	CRISIL A1+	2.99%
National Bank For Agriculture and Rural Development (17/04/2025)	ICRA A1+	1.00%
National Bank For Agriculture and Rural Development (10/06/2025)	ICRA A1+	0.99%
Sub Total		4.98%
Certificate of Deposit
ICICI Bank Limited (17/04/2025)	ICRA A1+	5.00%
Bank of Baroda (30/04/2025)	IND A1+	4.98%
Union Bank of India (07/05/2025)	IND A1+	3.98%
Canara Bank (15/05/2025)	CRISIL A1+	3.98%
Punjab National Bank (15/05/2025)	CRISIL A1+	3.98%
Indian Bank (02/05/2025)	CRISIL A1+	1.99%
Axis Bank Limited (02/05/2025)	CRISIL A1+	1.99%
Indian Bank (19/05/2025)	CRISIL A1+	1.99%
Axis Bank Limited (19/05/2025)	CRISIL A1+	1.99%
HDFC Bank Limited (27/05/2025)	CRISIL A1+	1.98%
HDFC Bank Limited (11/06/2025)	CRISIL A1+	1.98%
Union Bank of India (02/04/2025)	ICRA A1+	1.00%
National Bank For Agriculture and Rural Development (15/04/2025)	IND A1+	1.00%
Kotak Mahindra Bank Limited (23/04/2025)	CRISIL A1+	1.00%
Kotak Mahindra Bank Limited (28/04/2025)	CRISIL A1+	1.00%
Kotak Mahindra Bank Limited (02/05/2025)	CRISIL A1+	1.00%
Canara Bank (08/05/2025)	CRISIL A1+	1.00%
Punjab National Bank (08/05/2025)	CRISIL A1+	1.00%
HDFC Bank Limited (09/05/2025)	CARE A1+	1.00%
Kotak Mahindra Bank Limited (09/05/2025)	CRISIL A1+	1.00%
Kotak Mahindra Bank Limited (15/05/2025)	CRISIL A1+	0.99%
Axis Bank Limited (16/05/2025)	CRISIL A1+	0.99%
Canara Bank (28/05/2025)	CRISIL A1+	0.99%
Kotak Mahindra Bank Limited (06/06/2025)	CRISIL A1+	0.99%
Axis Bank Limited (06/06/2025)	CRISIL A1+	0.99%
Indian Bank (09/06/2025)	CRISIL A1+	0.99%
Bank of Baroda (11/06/2025)	IND A1+	0.99%
Punjab National Bank (16/06/2025)	CRISIL A1+	0.99%
Indian Bank (16/06/2025)	CRISIL A1+	0.99%
HDFC Bank Limited (17/06/2025)	CRISIL A1+	0.99%
Union Bank of India (17/06/2025)	ICRA A1+	0.99%
ICICI Bank Limited (27/06/2025)	ICRA A1+	0.99%
Sub Total		54.72%
Corporate Debt Market Development Fund A2
Corporate Debt Market Development Fund - Class A2 Units		0.24%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		2.39%
Net Assets		100.00%

Lumpsum Investment Performance (Compounded annual returns)
Date	Scheme	Tier I Benchmark	Additional Benchmark	Value of Investment of Rs. 10,000/-
Date	PPLF (Regular)	PPLF (Direct)	CRISIL Liquid Debt A-I Index	CRISIL 1 year T-bill Index	PPLF (Regular)	PPLF (Direct)	CRISIL Liquid Debt A-I Index	CRISIL 1 year T-bill Index
Since Inception (11 May, 2018)*	5.28%	5.39%	5.81%	6.07%	14,260	14,360	14,763	15,006
March 24, 2025 to March 31, 2025 (Last 7 Days)	9.55%	9.65%	9.37%	7.46%	10,018	10,019	10,018	10,014
March 16, 2025 to March 31, 2025 (Last 15 Days)	8.12%	8.22%	8.36%	8.23%	10,033	10,034	10,034	10,034
February 28, 2025 to March 31, 2025 (Last 1 Month)	7.17%	7.27%	7.43%	7.02%	10,061	10,062	10,063	10,060
December 31, 2024 to March 31, 2025 (Last 3 Month)	6.85%	6.95%	7.18%	7.17%	10,169	10,171	10,177	10,177
September 30, 2024 to March 31, 2025 (Last 6 Month)	6.77%	6.87%	7.08%	6.84%	10,338	10,343	10,353	10,341
March 31, 2024 to March 31, 2025 (Last 1 Year)	6.90%	7.01%	7.24%	7.49%	10,690	10,701	10,724	10,749
March 31, 2022 to March 31, 2025 (Last 3 Years)	6.31%	6.41%	6.75%	6.39%	12,016	12,052	12,168	12,043
March 31, 2020 to March 31, 2025 (Last 5 Years)	5.04%	5.15%	5.51%	5.51%	12,792	12,856	13,075	13,079

*Since inception returns are calculated on Rs. 1000 (allotment price)
Note:

Different plans shall have different expense structures.
Scheme returns shown are for direct and regular plan.
Past performance may or may not be sustained in future and is not a guarantee of any future returns.
Greater than 1 year returns are CAGR returns.
Data presented here is upto the last calendar month.
Less than 1 year returns are simple annualised returns.

Total number of units held in Parag Parikh Liquid Fund as per SEBI vide its Master Circular For Mutual Funds dated June 27, 2024 (Alignment of interest of Designated Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes) as at Mar 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Liquid Fund Direct Plan Growth	2,982.95	42,87,959.13

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Liquid Fund amounts to ₹ 63.62 Crores of AUM as at Mar 31, 2025. For more details please visit the 'Scheme' section of our website

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Digital Factsheet - March 2025

Parag Parikh Flexi Cap Fund

An open-ended dynamic equity scheme investing across large cap, mid cap, small cap stocks.

Parag Parikh Liquid Fund

An Open Ended Liquid Scheme

Parag Parikh Tax Saver Fund

An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit

Parag Parikh Conservative Hybrid Fund

An open-ended hybrid scheme investing predominantly in debt instruments

Investor Helpline:

1800-266-7790 [Toll-free]
[email protected] [For queries/complaints]

Distributor Helpline:

1800-266-8909 [Toll-free] or 91-22-6140-6538
[email protected] [For queries/complaints]