Parag Parikh Conservative Hybrid Fund

An open-ended hybrid scheme investing predominantly in debt instruments

Factsheet - MAY 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 - Chief Investment Officer& Equity Fund Manager (Since Inception) Mr. Raj Mehta - Executive Vice President& Fund Manager - Debt (Since Inception) Mr. Raunak Onkar - Fund Manager& Research Head (Since Inception) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since May 16, 2022) Ms. Mansi Kariya - Associate Vice President& Fund Manager- Debt (Since December 22, 2023)
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 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 May 31, 2025	₹ 2,665.17 Crores
Average AUM for the Month	₹ 2,609.74 Crores

Net Asset Value (NAV) as on May 30, 2025
Regular Plan	15.0454
Direct Plan	15.2269
Regular Plan - Monthly IDCW	11.0001
Direct Plan - Monthly IDCW	11.1378

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)*	4.09
*Modified Duration (Years)^#**	3.2988
*Yield to Maturity^{^#$}**	6.45%
*Macaulay duration (Years)^#**	3.4186
*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	2.08%
Coal India Limited	Consumable Fuels	1.95%
ITC Limited	Diversified FMCG	1.86%
Power Grid Corporation of India Limited	Power	1.71%
Swaraj Engines Limited	Industrial Products	0.92%
Sub total		8.52%
Arbitrage and Special Situations
Name	Industry	% of Net Assets
Reliance Industries Limited	Petroleum Products	1.09%
UltraTech Cement Limited	Cement & Cement Products	1.03%
Kotak Mahindra Bank Limited	Banks	0.37%
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%
GMR Airports Limited	Transport Infrastructure	0.05%
HDFC Bank Limited	Banks	0.05%
Steel Authority of India Limited	Ferrous Metals	0.03%
Tata Consultancy Services Limited	IT - Software	0.02%
Indian Oil Corporation Limited	Petroleum Products	0.01%
Jio Financial Services Limited	Finance	0.00%
Sub total		3.74%
Total		12.26%
Units issued by REITs & InvITs
Listed / awaiting listing on the stock exchanges
Name	Industry	% of Net Assets
Brookfield India Real Estate Trust	Realty	4.29%
Embassy Office Parks REIT	Realty	4.14%
Mindspace Business Parks REIT	Realty	0.73%
Sub total		9.16%
Debt and Money Market Instruments
Name	Rating	% of Net Assets
Certificate of Deposit
Axis Bank Limited (08/01/2026)	CRISIL A1+	1.81%
Kotak Mahindra Bank Limited (13/03/2026)	CRISIL A1+	1.07%
HDFC Bank Limited (18/12/2025)	CARE A1+	0.91%
Kotak Mahindra Bank Limited (09/01/2026)	CRISIL A1+	0.36%
Indian Bank (19/01/2026)	CRISIL A1+	0.36%
Kotak Mahindra Bank Limited (28/11/2025)	CRISIL A1+	0.18%
Canara Bank (05/12/2025)	CRISIL A1+	0.18%
Punjab National Bank (11/12/2025)	CRISIL A1+	0.18%
Punjab National Bank (08/01/2026)	CRISIL A1+	0.18%
Kotak Mahindra Bank Limited (15/01/2026)	CRISIL A1+	0.18%
Sub total		5.41%
Corporate Bond
7.3763% Bajaj Fina NCD (MD 26/06/2028)	CRISIL AAA	1.89%
7.70% REC Ltd NCD Ser 234A (MD 31/08/2026)	ICRA AAA	1.33%
7.51% SIDBI NCD Ser V (MD 12/06/2028)	CRISIL AAA	0.96%
7.34% SIDBI NCD Ser III (MD 26/02/2029)	CRISIL AAA	0.96%
8.12% Bajaj Fin Ltd NCD SR289 OPTIII (MD 10/09/27)	CRISIL AAA	0.96%
7.68% SIDBI NCD Ser VIII (MD 09/07/2027)	CRISIL AAA	0.96%
7.74% LIC Hsg Fin NCD Tr 448 (MD 22/10/2027)	CRISIL AAA	0.96%
7.50% NABARD Sr 24A NCD (MD 31/08/2026)	CRISIL AAA	0.95%
7.57% NABARD Sr 23G NCD (MD 19/03/2026)	CRISIL AAA	0.94%
7.58% Power Fin Corp NCD Sr222 (MD15/01/2026)	CRISIL AAA	0.94%
7.74% LIC Hsg Fin NCD Tr 445 Op II (MD 11/02/2028)	CRISIL AAA	0.76%
7.68% IRFC NCD Series 173 (MD 24/11/2026)	CRISIL AAA	0.76%
7.37% Power Fin Corp NCD Sr 230 (MD 22/05/2026)	CRISIL AAA	0.76%
7.59% Power Fin Corp NCD Sr 221B (MD 17/01/2028)	CRISIL AAA	0.58%
7.42% Power Fin Corp Ltd BS 246A NCD (MD 15/04/28)	CRISIL AAA	0.58%
7.77% REC Ltd NCD Ser 227 A (MD 30/09/2026)	CRISIL AAA	0.57%
8.37% REC Ltd NCD Ser 169 (MD 07/12/2028)	CRISIL AAA	0.40%
7.62% NABARD NCD Sr 23I (MD 31/01/2028)	CRISIL AAA	0.38%
7.70% NABARD Ser 25A NCD (MD 30/09/2027)	ICRA AAA	0.38%
8.30%REC Ltd GOI Fully Serv NCD SrVIII(MD25/03/29)	CRISIL AAA	0.20%
7.95% LIC Hsg Fin Ltd NCD (29/01/28)P27/08	CRISIL AAA	0.19%
7.59% National Hsg Bank NCD MD(14/07/2027)	CRISIL AAA	0.19%
7.59% REC Ltd NCD Ser 232A (MD 31/05/2027)	CRISIL AAA	0.19%
7.87% IndiGRID Infra Trust Ser Y (MD 24/02/2027)	CRISIL AAA	0.19%
7.7% IndiGRID Infra Trust Ser 3 (MD 06/05/2028)	CRISIL AAA	0.19%
7.64% REC Ltd NCD Ser 225 (MD 30/06/2026)	CRISIL AAA	0.19%
7.58% NABARD Sr 23H NCD (MD 31/07/2026)	CRISIL AAA	0.19%
7.4% National Hsg Bank Ltd NCD (16/07/2026)	CRISIL AAA	0.19%
Sub total		17.74%
Government securities/State Development Loans (SDLs)
7.33% Maharashtra SDL (MD 31/05/2031)	Sovereign	1.97%
7.14% Karnataka SDL (MD 12/01/2032)	Sovereign	1.94%
7.76% Maharashtra SDL (MD 04/10/2030)	Sovereign	1.80%
7.7% Maharashtra SDL (MD 19/10/2030)	Sovereign	1.60%
7.78% Maharashtra SDL (MD 27/10/2030)	Sovereign	1.20%
7.72% Maharashtra SDL (MD 23/03/2032)	Sovereign	1.20%
7.7% Andhra Pradesh SDL (MD 22/02/2030)	Sovereign	1.19%
7.39% Tamilnadu SDL (MD 12/06/2032)	Sovereign	1.18%
6.9% Gujarat SDL (MD 31/03/2030)	Sovereign	1.15%
6.58% Karnataka SDL (MD 03/06/2030)	Sovereign	1.14%
Other Government Securities	Sovereign	37.14%
Sub total		51.51%
Treasury Bills
364 Days Tbill (MD 21/11/2025)	Sovereign	0.18%
Sub total		0.18%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		1.02%
Sub total		1.02%
Corporate Debt Market Development Fund A2
Corporate Debt Market Development Fund - Class A2 Units		0.24%
Sub total		0.24%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		2.48%
Sub total		2.48%
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)
May 26, 2025	0.0255	0.0255	0.0612	0.0612	10.0000	11.0110	11.1486	11.0723	11.1741
Apr 28, 2025	0.0000	0.0000	0.0471	0.0471	10.0000	10.9202	11.0181	10.9673	11.0181
Apr 02, 2025	0.0594	0.0594	0.1083	0.1083	10.0000	10.8137	10.8616	10.9220	10.9209

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)*	10.71%	11.04%	7.95%	5.87%	15,045	15,227	13,595	12,573
May 31, 2024 to May 30, 2025 (Last 1 Year)	10.84%	11.17%	10.36%	11.75%	11,081	11,114	11,033	11,171
May 31, 2022 to May 30, 2025 (Last 3 Years)	12.21%	12.54%	10.09%	9.43%	14,127	14,253	13,343	13,106

*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	11.30%	19.36%	3.88%	4.26%
Parag Parikh Conservative Hybrid Fund - Dir - Growth	11.63%	19.72%	4.19%	4.27%
CRISIL Hybrid 85+15 Conservative Index	7.90%	13.91%	-0.31%	3.89%
3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Conservative Hybrid Fund - Reg - Growth	11.26%	12.54%	10.37%	0.46%
Parag Parikh Conservative Hybrid Fund - Dir - Growth	11.59%	12.87%	10.70%	0.46%
CRISIL Hybrid 85+15 Conservative Index	7.87%	10.27%	6.86%	0.74%
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)	May 31, 2024 to May 30, 2025 (Last 1 Year)	May 31, 2022 to May 30, 2025 (Last 3 Years)
Total Amount Invested	4,90,000	1,20,000	3,60,000
Market value of Investment	6,23,544	1,26,485	4,34,386
Market value of Investment (Direct)	6,27,687	1,26,689	4,36,499
(Regular) Returns (Annualised) (%)	11.84%	10.31%	12.63%
(Direct) Returns (Annualised) (%)	12.18%	10.64%	12.96%
Nifty 500 (TRI) Returns (Annualised) (%)	9.35%	10.43%	10.48%
Nifty 50 (TRI) Returns (Annualised) (%)	8.65%	13.05%	10.32%

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 May 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Conservative Hybrid Fund - Direct Plan Growth	3,09,984.04	47,23,970.80

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Conservative Hybrid Fund amounts to ₹ 10.01 Crores
of AUM as at May 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 - MAY 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 - Chief Investment Officer& Equity Fund Manager (Since Inception) Mr. Raj Mehta - Executive Vice President& Fund Manager - Debt (Since Inception) Mr. Raunak Onkar - Fund Manager & Research Head (Since Inception) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since Inception) Ms. Mansi Kariya - Associate Vice President& Fund Manager - Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 0.66%* Direct Plan: 0.31%* *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 May 31, 2025	₹ 1,579.59 Crores
Average AUM for the Month	₹ 1,526.68 Crores

Net Asset Value (NAV) as on May 30, 2025
Regular Plan	11.1508
Direct Plan	11.2125

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)*	152.16
Modified Duration (Years)*	0.3894
*Yield to Maturity^{^$}**	6.29%
Macaulay duration (Years)*	0.4143
*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
HDFC Bank Limited	Banks	4.02%
Reliance Industries Limited	Petroleum Products	3.68%
ICICI Bank Limited	Banks	2.90%
IDFC First Bank Limited	Banks	2.89%
Axis Bank Limited	Banks	2.84%
NMDC Limited	Minerals & Mining	2.54%
Canara Bank	Banks	2.30%
Steel Authority of India Limited	Ferrous Metals	2.16%
Bank of Baroda	Banks	2.05%
Bharat Electronics Limited	Aerospace & Defense	2.05%
Other Equity		39.64%
Total		67.07%
Debt and Money Market Instruments
Name	Rating	% of Net Assets
Certificate of Deposit
Axis Bank Limited (08/01/2026)	CRISIL A1+	3.05%
Small Industries Dev Bank of India (25/03/2026)	CARE A1+	3.01%
Canara Bank (03/09/2025)	CRISIL A1+	1.56%
Union Bank of India (04/12/2025)	ICRA A1+	1.53%
Punjab National Bank (11/12/2025)	CRISIL A1+	1.53%
HDFC Bank Limited (18/12/2025)	CARE A1+	1.53%
Punjab National Bank (16/01/2026)	CARE A1+	1.52%
Indian Bank (19/01/2026)	CRISIL A1+	1.52%
National Bank For Agriculture and Rural Development (20/01/2026)	CRISIL A1+	1.52%
Kotak Mahindra Bank Limited (13/03/2026)	CRISIL A1+	1.21%
Bank of Baroda (12/09/2025)	IND A1+	0.93%
Kotak Mahindra Bank Limited (09/01/2026)	CRISIL A1+	0.91%
National Bank For Agriculture and Rural Development (05/02/2026)	CRISIL A1+	0.91%
Sub total		20.73%
Treasury Bill
Name	Rating	% of Net Assets
364 Days Tbill (MD 15/08/2025)	Sovereign	0.31%
Sub total		0.31%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		10.36%
Sub total		10.36%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		1.53%
Sub total		1.53%
Net Assets		100.00%

*Outstanding Derivative exposure - 67.39%

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)*	7.16%	7.54%	7.71%	7.78%	11,151	11,213	11,242	11,253
May 31, 2024 to May 30, 2025 (Last 1 Year)	6.94%	7.31%	7.56%	8.01%	10,692	10,729	10,753	10,799

*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)	May 31, 2024 to May 30, 2025 (Last 1 Year)
Total Amount Invested	1,90,000	1,20,000
Market value of Investment (Regular)	2,00,943	1,24,280
Market value of Investment (Direct)	2,01,537	1,24,515
(Regular) Returns (Annualised) (%)	6.96%	6.77%
(Direct) Returns (Annualised) (%)	7.33%	7.14%
Nifty 50 Arbitrage (TRI) Returns (Annualised) (%)	7.68%	7.80%
CRISIL 1 Year T-Bill Index Returns (Annualised) (%)	8.03%	8.28%

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 May 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Arbitrage Fund - Direct Plan Growth	65,807.17	7,38,237.54

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Arbitrage Fund amounts to ₹ 65.35 Crores of AUM as at May 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 - MAY 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 - Chief Investment Officer& Equity Fund Manager (Since Inception) Mr. Raj Mehta - Executive Vice President& Fund Manager - Debt (Since Inception) Mr. Raunak Onkar - Fund Manager& Research Head (Since Inception) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since Inception) Ms. Mansi Kariya - Associate Vice President& Fund Manager- Debt (Since Inception)
Month End Expense Ratio	Regular Plan: 0.63%* Direct Plan: 0.33%* *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 May 31, 2025	₹ 2,104.51 Crores
Average AUM for the Month	₹ 2,016.25 Crores

Net Asset Value (NAV) as on May 30, 2025
Regular Plan	11.2739
Direct Plan	11.3171
Regular Plan - Monthly IDCW:	10.2802
Direct Plan - Monthly IDCW:	10.4336

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)*	4.21
*Modified Duration (Years)^#**	3.3588
*Yield to Maturity^{^#$}**	6.47%
*Macaulay duration (Years)^#**	3.4842
*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
a) Listed/awaiting listing on Stock Exchanges
ITC Limited	Diversified FMCG	2.49%
Coal India Limited	Consumable Fuels	2.48%
Power Grid Corporation of India Limited	Power	2.48%
Petronet LNG Limited	Gas	2.31%
Swaraj Engines Limited	Industrial Products	1.33%
Nesco Limited	Commercial Services & Supplies	1.00%
NIRLON LIMITED	Commercial Services & Supplies	0.14%
VST Industries Limited	Cigarettes & Tobacco Products	0.05%
Sub total		12.28%
Arbitrage
^@Reliance Industries Limited	Petroleum Products	4.24%
^@Bajaj Finance Limited	Finance	2.08%
^@UltraTech Cement Limited	Cement & Cement Products	1.47%
^@Tata Motors Limited	Automobiles	1.46%
^@Kotak Mahindra Bank Limited	Banks	1.30%
^@Axis Bank Limited	Banks	1.24%
^@HDFC Bank Limited	Banks	1.21%
^@ICICI Bank Limited	Banks	0.94%
^@Bharat Electronics Limited	Aerospace & Defense	0.72%
^@InterGlobe Aviation Limited	Transport Services	0.65%
^@Others		8.45%
Sub total		23.76%
Total		36.04%
Certificate of Deposit
HDFC Bank Limited (18/12/2025)	CARE A1+	1.15%
Axis Bank Limited (08/01/2026)	CRISIL A1+	0.69%
Kotak Mahindra Bank Limited (28/11/2025)	CRISIL A1+	0.46%
HDFC Bank Limited (04/11/2025)	CARE A1+	0.23%
Sub total		2.53%
Corporate Bond/NCD
7.42% Power Fin Corp Ltd BS 246A NCD (MD 15/04/28)	CRISIL AAA	1.70%
7.51% SIDBI NCD Ser V (MD 12/06/2028)	CRISIL AAA	1.22%
7.95% LIC Hsg Fin Ltd NCD (29/01/28)P27/08	CRISIL AAA	1.22%
7.79% SIDBI NCD Ser IV of 23-24 (MD 19/04/2027)	CRISIL AAA	1.21%
7.74% LIC Hsg Fin NCD Tr 445 Op II (MD 11/02/2028)	CRISIL AAA	1.21%
7.68% IRFC NCD Series 173 (MD 24/11/2026)	CRISIL AAA	1.21%
7.3763% Bajaj Fina NCD (MD 26/06/2028)	CRISIL AAA	1.20%
7.2337% Bajaj Fin Ltd Opt II NCD (MD 28/06/2027)	CRISIL AAA	1.19%
7.59% REC Ltd NCD Ser 232A (MD 31/05/2027)	CRISIL AAA	0.97%
7.48% NABARD NCD Series 25 G (MD 15/09/2028)	CRISIL AAA	0.73%
7.59% National Hsg Bank NCD MD(14/07/2027)	CRISIL AAA	0.73%
7.58% NABARD Sr 23H NCD (MD 31/07/2026)	CRISIL AAA	0.72%
7.37% Power Fin Corp NCD Sr 230 (MD 22/05/2026)	CRISIL AAA	0.72%
7.77% REC Ltd NCD Ser 227 A (MD 30/09/2026)	CRISIL AAA	0.48%
7.70% REC Ltd NCD Ser 234A (MD 31/08/2026)	ICRA AAA	0.48%
7.4% National Hsg Bank Ltd NCD (16/07/2026)	CRISIL AAA	0.48%
7.57% NABARD Sr 23G NCD (MD 19/03/2026)	CRISIL AAA	0.48%
8.37% REC Ltd NCD Ser 169 (MD 07/12/2028)	CRISIL AAA	0.25%
7.95% REC Ltd NCD (MD 12/03/2027)	CRISIL AAA	0.24%
7.70% NABARD Ser 25A NCD (MD 30/09/2027)	ICRA AAA	0.24%
7.87% IndiGRID Infra Trust Ser Y (MD 24/02/2027)	CRISIL AAA	0.24%
6.07% NABARD NCD Sr MIF 1B (MD 19/11/2027)	ICRA AAA	0.23%
Sub total		17.15%
Government securities/State Development Loans (SDLs)
7.39% Tamilnadu SDL (MD 12/06/2032)	Sovereign	2.00%
7.67% Tamilnadu SDL (MD 13/12/2030)	Sovereign	1.26%
7.7% Maharashtra SDL (MD 08/03/2031)	Sovereign	1.26%
7.33% Maharashtra SDL (MD 31/05/2031)	Sovereign	1.25%
6.98% Tamilnadu SDL (MD 14/07/2031)	Sovereign	1.23%
7.69% Maharashtra SDL (MD 15/03/2031)	Sovereign	1.01%
7.83% Maharashtra SDL (MD 08/04/2030)	Sovereign	1.01%
7.32% GOI (MD 13/11/2030)	Sovereign	1.01%
7.49% Maharashtra SDL (MD 12/04/2030)	Sovereign	1.00%
Other Government Securities	Sovereign	26.68%
Sub total		37.71%
Treasury Bills
364 Days Tbill (MD 15/08/2025)	Sovereign	0.23%
364 Days Tbill (MD 21/11/2025)	Sovereign	0.23%
Sub total		0.46%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		3.61%
Sub total		3.61%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		2.50%
Sub total		2.50%
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)*	10.03%	10.36%	10.41%	10.34%	11,274	11,317	11,323	11,314
May 31, 2024 to May 30, 2025 (Last 1 Year)	9.67%	10.01%	9.95%	11.11%	10,965	10,998	10,992	11,108

*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)
May 26, 2025	0.0092	0.0092	0.0000	0.0000	10.0000	10.3103	10.4638	10.3103	10.4729
Apr. 28, 2025	0.0000	0.0000	0.0000	0.0000	10.0000	10.2130	10.3718	10.2130	10.3718
Apr. 02, 2025	0.1931	0.1931	0.1847	0.1847	10.0000	10.0803	10.2348	10.2650	10.4279

SIP Investment Performance (Assumption : 10,000/- is invested on the first of every month)
Date	Since Inception (27 Feb, 2024)	May 31, 2024 to May 30, 2025 (Last 1 Year)
Total Amount Invested	1,60,000	1,20,000
Market value of Investment (Regular Plan)	1,70,026	1,25,231
Market value of Investment (Direct Plan)	1,70,398	1,25,440
(Regular Plan) Returns (Annualised) (%)	9.05%	8.29%
(Direct Plan) Returns (Annualised) (%)	9.38%	8.63%
CRISIL Hybrid 50+50 - Moderate Index (Annualised) (%)	9.09%	8.23%
Nifty 50 TRI (Annualised) (%)	8.27%	6.87%

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 May 31, 2025

Scheme	Units	AUM (in Rs.)
Parag Parikh Dynamic Asset Allocation Fund - Direct Plan Growth	75,576.86	8,55,635.72

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Dynamic Asset Allocation Fund amounts to ₹ 15.46 Crores of AUM as at May 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 - MAY 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 - Chief Investment Officer & Equity Fund Manager (Since Inception) Mr. Raj Mehta - Executive Vice President& Fund Manager - Debt (Since January 27, 2016) Mr. Raunak Onkar - Fund Manager& Research Head (Since Inception) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since May 16, 2022) Ms. Mansi Kariya - Associate Vice President& Fund Manager- Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 1.28%* 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 May 31, 2025	₹ 1,03,867.95 Crores
Average AUM for the Month	₹ 1,01,834.50 Crores

Net Asset Value (NAV) as on May 30, 2025
Regular Plan:	82.4588
Direct Plan:	89.7841

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	0.62
Standard Deviation	10.24%
Sharpe Ratio	1.18
Portfolio Turnover (excl Equity Arbitrage)	16.20%
Portfolio Turnover (incl Equity Arbitrage)	34.43%
- Above figures are annualised. - Risk free rate assumed to be 5.86% (FBIL Overnight MIBOR as on May 30, 2025)

Portfolio Disclosure
Core Equity
Name	Industry	% of Net Assets
HDFC Bank Limited	Banks	8.11%
Bajaj Holdings & Investment Limited	Finance	6.87%
Coal India Limited	Consumable Fuels	5.95%
Power Grid Corporation of India Limited	Power	5.83%
ICICI Bank Limited	Banks	4.87%
ITC Limited	Diversified FMCG	4.40%
Kotak Mahindra Bank Limited	Banks	3.95%
Maruti Suzuki India Limited	Automobiles	3.58%
Mahindra & Mahindra Limited	Automobiles	3.51%
Axis Bank Limited	Banks	3.13%
HCL Technologies Limited	IT - Software	2.89%
Bharti Airtel Limited	Telecom - Services	2.11%
Infosys Limited	IT - Software	1.40%
Zydus Lifesciences Limited	Pharmaceuticals & Biotechnology	1.28%
Cipla Limited	Pharmaceuticals & Biotechnology	1.25%
Dr. Reddy's Laboratories Limited	Pharmaceuticals & Biotechnology	1.25%
Balkrishna Industries Limited	Auto Components	1.00%
Indian Energy Exchange Limited	Capital Markets	0.85%
Multi Commodity Exchange of India Limited	Capital Markets	0.51%
Motilal Oswal Financial Services Limited	Capital Markets	0.42%
Narayana Hrudayalaya Limited	Healthcare Services	0.34%
Central Depository Services (India)	Capital Markets	0.33%
EID Parry India Limited	Food Products	0.30%
IPCA Laboratories Limited	Pharmaceuticals & Biotechnology	0.23%
ICRA Limited	Capital Markets	0.19%
Maharashtra Scooters Limited	Finance	0.10%
Swaraj Engines Limited	Industrial Products	0.02%
Nesco Limited	Commercial Services & Supplies	0.01%
Total		64.68%
Arbitrage and Special Situations
^@Reliance Industries Limited	Petroleum Products	0.89%
^@Bajaj Finance Limited	Finance	0.26%
^@Tata Consultancy Services Limited	IT - Software	0.19%
^@Jio Financial Services Limited	Finance	0.15%
^@Larsen & Toubro Limited	Construction	0.11%
Others		1.02%
Sub total		2.62%
Total		67.30%
Overseas Securities, IDRS and ADRs
Meta Platforms Registered Shares A	Computer Software	3.15%
Alphabet Inc A	Computer Software	2.78%
Microsoft Corp	Computer Software	2.67%
Amazon Com Inc	Catalog/Specialty Distribution	2.32%
Total		10.92%
Units issued by REITs & InvITs
Embassy Office Parks REIT	Realty	0.34%
Brookfield India Real Estate Trust	Realty	0.01%
Mindspace Business Parks REIT	Realty	0.00%
Total		0.35%
Debt and Money Market Instruments
Certificate of Deposit	Rating
National Bank For Agriculture and Rural Development (20/01/2026)	CRISIL A1+	0.58%
ICICI Bank Limited (14/11/2025)	ICRA A1+	0.56%
Punjab National Bank (05/12/2025)	CRISIL A1+	0.56%
National Bank For Agriculture and Rural Development (22/01/2026)	CRISIL A1+	0.49%
Union Bank of India (26/11/2025)	ICRA A1+	0.47%
Small Industries Dev Bank of India (05/05/2026)	CRISIL A1+	0.36%
Indian Bank (04/12/2025)	CRISIL A1+	0.33%
Canara Bank (02/09/2025)	CRISIL A1+	0.28%
HDFC Bank Limited (10/10/2025)	CARE A1+	0.28%
Kotak Mahindra Bank Limited (11/12/2025)	CRISIL A1+	0.28%
Canara Bank (12/12/2025)	CRISIL A1+	0.28%
Indian Bank (06/03/2026)	CRISIL A1+	0.28%
ICICI Bank Limited (27/06/2025)	ICRA A1+	0.26%
Bank of Baroda (09/01/2026)	IND A1+	0.23%
Bank of Baroda (13/01/2026)	IND A1+	0.23%
Small Industries Dev Bank of India (13/01/2026)	CARE A1+	0.23%
Bank of Baroda (12/09/2025)	IND A1+	0.21%
Bank of Baroda (12/12/2025)	IND A1+	0.21%
HDFC Bank Limited (19/05/2026)	CRISIL A1+	0.20%
Kotak Mahindra Bank Limited (04/12/2025)	CRISIL A1+	0.19%
HDFC Bank Limited (04/12/2025)	CRISIL A1+	0.19%
Punjab National Bank (08/01/2026)	CRISIL A1+	0.19%
Union Bank of India (16/01/2026)	ICRA A1+	0.19%
Canara Bank (04/03/2026)	CRISIL A1+	0.18%
Punjab National Bank (18/03/2026)	CRISIL A1+	0.18%
Indian Bank (06/05/2026)	CRISIL A1+	0.18%
HDFC Bank Limited (24/03/2026)	CRISIL A1+	0.16%
Axis Bank Limited (10/10/2025)	CRISIL A1+	0.14%
Axis Bank Limited (07/01/2026)	CRISIL A1+	0.14%
Axis Bank Limited (09/10/2025)	CRISIL A1+	0.12%
Union Bank of India (18/12/2025)	IND A1+	0.12%
HDFC Bank Limited (31/10/2025)	CRISIL A1+	0.09%
Axis Bank Limited (13/11/2025)	CRISIL A1+	0.09%
Kotak Mahindra Bank Limited (26/11/2025)	CRISIL A1+	0.09%
Union Bank of India (04/12/2025)	ICRA A1+	0.09%
Canara Bank (04/12/2025)	CRISIL A1+	0.09%
Union Bank of India (05/12/2025)	ICRA A1+	0.09%
Axis Bank Limited (08/01/2026)	CRISIL A1+	0.09%
Union Bank of India (10/01/2026)	IND A1+	0.09%
Kotak Mahindra Bank Limited (15/01/2026)	CRISIL A1+	0.09%
Punjab National Bank (16/01/2026)	CARE A1+	0.09%
Indian Bank (19/01/2026)	CRISIL A1+	0.09%
Canara Bank (30/01/2026)	CRISIL A1+	0.09%
Canara Bank (03/02/2026)	CRISIL A1+	0.09%
Kotak Mahindra Bank Limited (13/03/2026)	CRISIL A1+	0.09%
Axis Bank Limited (04/02/2026)	CRISIL A1+	0.07%
Indian Bank (06/11/2025)	CRISIL A1+	0.05%
Indian Bank (08/01/2026)	CRISIL A1+	0.05%
Union Bank of India (29/01/2026)	IND A1+	0.05%
Small Industries Dev Bank of India (06/02/2026)	CRISIL A1+	0.05%
ICICI Bank Limited (25/07/2025)	ICRA A1+	0.02%
Sub total		9.85%
Commercial Paper
Bajaj Finance Limited (06/05/2026)	CRISIL A1+	0.18%
Bajaj Finance Limited (26/05/2026)	CRISIL A1+	0.18%
Bajaj Finance Limited (07/05/2026)	CRISIL A1+	0.09%
Sub total		0.45%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		0.29%
Sub total		0.29%
T-Bill	Rating
364 Days Tbill (MD 04/12/2025)	Sovereign	0.28%
364 Days Tbill (MD 29/01/2026)	Sovereign	0.19%
364 Days Tbill (MD 21/11/2025)	Sovereign	0.10%
364 Days Tbill (MD 16/04/2026)	Sovereign	0.09%
364 Days Tbill (MD 27/11/2025)	Sovereign	0.05%
TREPS Including Cash & Cash Equivalent and Net Current Asset	Cash & Cash Equivalent	10.03%
Sub total		10.84%
Total		21.43%
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)*	19.18%	20.02%	15.35%	13.93%	82,459	89,784	55,672	47,967
May 31, 2024 to May 30, 2025 (Last 1 Year)	14.70%	15.49%	9.05%	11.11%	11,466	11,545	10,902	11,108
May 31, 2022 to May 30, 2025 (Last 3 Years)	20.95%	21.91%	18.44%	15.56%	17,694	18,116	16,613	15,432
May 29, 2020 to May 30, 2025 (Last 5 Years)	26.81%	27.92%	25.09%	22.29%	32,840	34,305	30,661	27,380
May 29, 2015 to May 30, 2025 (Last 10 Years)	17.23%	18.11%	13.85%	12.73%	49,089	52,940	36,642	33,201

*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)	May 31, 2024 to May 30, 2025 (Last 1 Year)	May 31, 2022 to May 30, 2025 (Last 3 Years)	May 29, 2020 to May 30, 2025 (Last 5 Years)	May 29, 2015 to May 30, 2025 (Last 10 Years)
Total Amount Invested	14,50,000	1,20,000	3,60,000	6,00,000	12,00,000
Market value of Investment (Regular)	50,42,563	1,25,622	4,91,587	10,04,370	33,82,062
Market value of Investment (Direct)	53,61,711	1,26,081	4,97,799	10,29,040	35,60,569
(Regular) Returns (Annualised) (%)	19.16%	8.91%	21.38%	20.76%	19.68%
(Direct) Returns (Annualised) (%)	20.07%	9.65%	22.29%	21.76%	20.63%
Nifty 500 (TRI) Returns (Annualised) (%)	15.54%	5.14%	17.36%	18.06%	15.98%
Nifty 50 (TRI) Returns (Annualised) (%)	14.17%	6.98%	14.67%	15.51%	14.67%

3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	18.11%	36.29%	0.07%	5.81%
Parag Parikh Flexi Cap Fund - Direct - Growth	19.00%	37.64%	0.74%	5.99%
Tier I Benchmark Index - Nifty 500 TRI	14.74%	33.50%	-6.31%	5.85%
5 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	18.18%	32.75%	3.44%	5.01%
Parag Parikh Flexi Cap Fund - Direct - Growth	19.07%	33.93%	4.09%	5.14%
Tier I Benchmark Index - Nifty 500 TRI	14.17%	28.87%	-1.05%	4.74%
10 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	18.51%	20.60%	16.35%	0.94%
Parag Parikh Flexi Cap Fund - Direct - Growth	19.38%	21.48%	17.23%	0.93%
Tier I Benchmark Index - Nifty 500 TRI	14.94%	17.02%	11.71%	1.19%
- 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 May 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Flexi Cap Fund - Direct Plan	15,52,241.33	13,96,74,243.22

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Flexi Cap Fund amounts to ₹ 518.14 Crores of AUM as at May 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 - MAY 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 - Chief Investment Officer & Equity Fund Manager (Since Inception) Mr. Raj Mehta - Executive Vice President& Fund Manager - Debt (Since Inception) Mr. Raunak Onkar - Fund Manager& Research Head (Since Inception) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since May 16, 2022) Ms. Mansi Kariya - Associate Vice President& Fund Manager- Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 1.72%* Direct Plan: 0.62%* *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 May 31, 2025	₹ 5,294.26 Crores
Average AUM for the Month	₹ 5,211.43 Crores

Net Asset Value (NAV) as on May 30, 2025
Regular Plan	31.3270
Direct Plan	33.6176

Entry Load	Not Applicable
Exit Load	NIL

Beta	0.65
Standard Deviation	10.46%
Sharpe Ratio	1.11
Portfolio Turnover	16.38%
- Above figures are annualised. - Risk free rate assumed to be 5.86% (FBIL Overnight MIBOR as on May 30, 2025)

Core Equity
Name	Industry	% of Net Assets
Bajaj Holdings & Investment Limited	Finance	8.59%
HDFC Bank Limited	Banks	8.18%
Maharashtra Scooters Limited	Finance	6.34%
Coal India Limited	Consumable Fuels	6.05%
Power Grid Corporation of India Limited	Power	5.96%
ICICI Bank Limited	Banks	4.90%
ITC Limited	Diversified FMCG	4.81%
HCL Technologies Limited	IT - Software	4.07%
Kotak Mahindra Bank Limited	Banks	4.01%
Infosys Limited	IT - Software	3.96%
Maruti Suzuki India Limited	Automobiles	3.70%
Mahindra & Mahindra Limited	Automobiles	3.50%
Axis Bank Limited	Banks	3.09%
Wipro Limited	IT - Software	2.33%
Tata Consultancy Services Limited	IT - Software	2.22%
Bharti Airtel Limited	Telecom - Services	1.55%
Zydus Lifesciences Limited	Pharmaceuticals & Biotechnology	1.32%
Dr. Reddy's Laboratories Limited	Pharmaceuticals & Biotechnology	1.31%
Cipla Limited	Pharmaceuticals & Biotechnology	1.25%
Balkrishna Industries Limited	Auto Components	1.15%
CMS Info System Limited	Commercial Services & Supplies	0.90%
EID Parry India Limited	Food Products	0.48%
Motilal Oswal Financial Services Limited	Capital Markets	0.40%
Multi Commodity Exchange of India Limited	Capital Markets	0.39%
Narayana Hrudayalaya Limited	Healthcare Services	0.35%
Indian Energy Exchange Limited	Capital Markets	0.33%
Central Depository Services (India)	Capital Markets	0.30%
CCL Products (India)	Agricultural Food & other Products	0.29%
Swaraj Engines Limited	Industrial Products	0.24%
IPCA Laboratories Limited	Pharmaceuticals & Biotechnology	0.15%
VST Industries Limited	Cigarettes & Tobacco Products	0.14%
ICRA Limited	Capital Markets	0.07%
Nesco Limited	Commercial Services & Supplies	0.02%
Total		82.35%
Debt and Money Market Instruments
Certificate of Deposit	Rating
Axis Bank Limited (15/07/2025)	CRISIL A1+	0.94%
Union Bank of India (26/11/2025)	ICRA A1+	0.92%
Bank of Baroda (13/01/2026)	IND A1+	0.91%
Kotak Mahindra Bank Limited (15/01/2026)	CRISIL A1+	0.91%
HDFC Bank Limited (24/03/2026)	CRISIL A1+	0.90%
Small Industries Dev Bank of India (05/05/2026)	CRISIL A1+	0.89%
Punjab National Bank (10/07/2025)	CRISIL A1+	0.47%
Kotak Mahindra Bank Limited (24/07/2025)	CRISIL A1+	0.47%
ICICI Bank Limited (25/07/2025)	ICRA A1+	0.47%
Canara Bank (02/09/2025)	CRISIL A1+	0.46%
Canara Bank (03/09/2025)	CRISIL A1+	0.46%
ICICI Bank Limited (14/11/2025)	ICRA A1+	0.46%
Indian Bank (04/12/2025)	CRISIL A1+	0.46%
Punjab National Bank (08/01/2026)	CRISIL A1+	0.45%
Small Industries Dev Bank of India (13/01/2026)	CARE A1+	0.45%
National Bank For Agriculture and Rural Development (20/01/2026)	CRISIL A1+	0.45%
National Bank For Agriculture and Rural Development (22/01/2026)	CRISIL A1+	0.45%
HDFC Bank Limited (06/02/2026)	CRISIL A1+	0.45%
National Bank For Agriculture and Rural Development (17/02/2026)	ICRA A1+	0.45%
Sub total		11.42%
Treasury Bill
364 Days Tbill (MD 21/11/2025)	Sovereign	0.09%
TREPS Including Cash & Cash Equivalent and Net Current Asset	Debt and Money Market Instruments	6.14%
Sub total		6.14%
Total		17.65%
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)*	21.54%	23.01%	18.05%	15.69%	31,327	33,618	26,415	23,476
May 31, 2024 to May 30, 2025 (Last 1 Year)	15.59%	16.86%	9.05%	11.11%	11,554	11,681	10,902	11,108
May 31, 2022 to May 30, 2025 (Last 3 Years)	19.50%	20.90%	18.44%	15.56%	17,067	17,673	16,613	15,432
May 29, 2020 to May 30, 2025 (Last 5 Years)	26.62%	28.15%	25.09%	22.29%	32,583	34,602	30,661	27,380

*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)	May 31, 2024 to May 30, 2025 (Last 1 Year)	May 31, 2022 to May 30, 2025 (Last 3 Years)	May 29, 2020 to May 30, 2025 (Last 5 Years)
Total Amount Invested	7,10,000	1,20,000	3,60,000	6,00,000
Market value of Investment	13,31,292	1,25,808	4,76,228	9,86,992
Market value of Investment (Direct)	13,89,927	1,26,549	4,85,314	10,22,122
(Regular) Returns (Annualised) (%)	21.19%	9.21%	19.10%	20.04%
(Direct) Returns (Annualised) (%)	22.67%	10.41%	20.45%	21.48%
Nifty 500 (TRI) Returns (Annualised) (%)	18.76%	5.14%	17.36%	18.06%
Nifty 50 (TRI) Returns (Annualised) (%)	16.23%	6.98%	14.67%	15.51%

3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh ELSS Tax Saver Fund - Regular - Growth	22.25%	35.78%	14.07%	3.89%
Parag Parikh ELSS Tax Saver Fund - Direct - Growth	23.78%	37.51%	15.42%	3.97%
Tier I Benchmark Index - Nifty 500 TRI	19.52%	33.50%	10.85%	3.94%
5 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh ELSS Tax Saver Fund - Regular - Growth	24.55%	30.79%	21.52%	2.22%
Parag Parikh ELSS Tax Saver Fund - Direct - Growth	26.07%	32.36%	23.01%	2.24%
Tier I Benchmark Index - Nifty 500 TRI	21.42%	28.87%	16.89%	2.90%
- 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 May 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh ELSS Tax Saver Fund - Direct Plan	1,90,091.63	64,05,745.90

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh ELSS Tax Saver Fund amounts to ₹ 66.77 Crores of AUM as at May 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 - MAY 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 - Executive Vice President& F und Manager - Debt (Since Inception) Ms. Mansi Kariya - Associate Vice President& Fund Manager- Debt (Since December 22, 2023)
Month End Expense Ratio	Regular Plan: 0.21%* Direct Plan: 0.11%* *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 May. 31, 2025	₹ 3,425.78 Crores
Average AUM for the Month	₹ 3,273.03 Crores

Plan	Direct	Regular
Growth	1451.9544	1441.6291
Daily Reinvestment of Income Distribution cum capital withdrawal option	1000.5405	1000.5404
Weekly Reinvestment of Income Distribution cum capital withdrawal option	1001.8461	1001.8322
Monthly Income Distribution cum capital withdrawal option	1003.8474	1003.8336

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)
May 26, 2025	5.0095	5.0095	4.9322	4.9322	1,000	1,003	1,003	1007.9322	1008.0095
Apr 28, 2025	4.6104	4.6104	4.5386	4.5386	1,000	1,003	1,003	1007.5386	1007.6104
Apr 02, 2025	7.4737	7.4737	7.3716	7.3716	1,000	1,003	1,003	1010.3716	1010.4737

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)	41.95
Modified duration (Years)^#	0.1058
Yield to Maturity^#^$	6.12%
Macaulay Duration (Years)^#	0.1123
* 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
182 Days Tbill (MD 03/07/2025)	Sovereign	2.18%
91 Days Tbill (MD 01/08/2025)	Sovereign	2.17%
182 Days Tbill (MD 14/08/2025)	Sovereign	2.16%
91 Days Tbill (MD 28/08/2025)	Sovereign	2.16%
364 Days Tbill (MD 19/06/2025)	Sovereign	1.46%
91 Days Tbill (MD 11/07/2025)	Sovereign	1.45%
91 Days Tbill (MD 17/07/2025)	Sovereign	1.45%
91 Days Tbill (MD 24/07/2025)	Sovereign	1.45%
182 Days Tbill (MD 31/07/2025)	Sovereign	1.45%
91 Days Tbill (MD 05/06/2025)	Sovereign	0.73%
182 Days Tbill (MD 12/06/2025)	Sovereign	0.73%
91 Days Tbill (MD 26/06/2025)	Sovereign	0.73%
182 Days Tbill (MD 07/08/2025)	Sovereign	0.72%
Sub Total		18.84%
Government Securities
7.13% Power Finance Corporation Limited (08/08/2025)	CRISIL AAA	0.73%
Sub Total		0.73%
Commercial Paper
Small Industries Dev Bank of India (02/07/2025)	CRISIL A1+	3.63%
Export Import Bank of India (03/06/2025)	CRISIL A1+	2.92%
Hindustan Petroleum Corporation Limited (10/06/2025)	CRISIL A1+	2.91%
Indian Oil Corporation Limited (27/06/2025)	ICRA A1+	2.91%
NTPC Limited (30/07/2025)	ICRA A1+	2.89%
Bharat Petroleum Corporation Limited (10/06/2025)	CRISIL A1+	2.19%
Indian Oil Corporation Limited (13/06/2025)	ICRA A1+	1.46%
Hindustan Petroleum Corporation Limited (25/06/2025)	CRISIL A1+	1.45%
Small Industries Dev Bank of India (09/07/2025)	CRISIL A1+	1.45%
National Bank For Agriculture and Rural Development (09/07/2025)	ICRA A1+	1.45%
Power Finance Corporation Limited (15/07/2025)	CRISIL A1+	1.45%
Small Industries Dev Bank of India (26/08/2025)	CRISIL A1+	1.44%
National Bank For Agriculture and Rural Development (10/06/2025)	ICRA A1+	0.73%
National Bank For Agriculture and Rural Development (11/07/2025)	ICRA A1+	0.72%
Sub Total		27.60%
Certificate of Deposit
ICICI Bank Limited (25/07/2025)	ICRA A1+	5.06%
Bank of Baroda (09/07/2025)	IND A1+	3.63%
Kotak Mahindra Bank Limited (24/07/2025)	CRISIL A1+	2.89%
Punjab National Bank (29/07/2025)	CRISIL A1+	2.89%
Axis Bank Limited (15/07/2025)	CRISIL A1+	2.17%
Indian Bank (07/08/2025)	CRISIL A1+	2.16%
Indian Bank (14/08/2025)	CRISIL A1+	2.16%
Kotak Mahindra Bank Limited (26/08/2025)	CRISIL A1+	2.16%
Canara Bank (26/08/2025)	CRISIL A1+	2.16%
Axis Bank Limited (05/06/2025)	CRISIL A1+	1.46%
Bank of Baroda (06/06/2025)	IND A1+	1.46%
Kotak Mahindra Bank Limited (11/06/2025)	CRISIL A1+	1.46%
HDFC Bank Limited (11/06/2025)	CRISIL A1+	1.46%
Punjab National Bank (10/07/2025)	CRISIL A1+	1.45%
HDFC Bank Limited (11/07/2025)	CARE A1+	1.45%
Axis Bank Limited (16/07/2025)	CRISIL A1+	1.45%
Punjab National Bank (24/07/2025)	CRISIL A1+	1.45%
Kotak Mahindra Bank Limited (06/06/2025)	CRISIL A1+	0.73%
Axis Bank Limited (06/06/2025)	CRISIL A1+	0.73%
Indian Bank (09/06/2025)	CRISIL A1+	0.73%
Bank of Baroda (11/06/2025)	IND A1+	0.73%
Punjab National Bank (16/06/2025)	CRISIL A1+	0.73%
Indian Bank (16/06/2025)	CRISIL A1+	0.73%
Union Bank of India (17/06/2025)	ICRA A1+	0.73%
HDFC Bank Limited (17/06/2025)	CRISIL A1+	0.73%
National Bank For Agriculture and Rural Development (24/06/2025)	CRISIL A1+	0.73%
ICICI Bank Limited (27/06/2025)	ICRA A1+	0.73%
Canara Bank (01/07/2025)	CRISIL A1+	0.73%
HDFC Bank Limited (01/07/2025)	CARE A1+	0.73%
Bank of Baroda (25/07/2025)	IND A1+	0.72%
HDFC Bank Limited (25/07/2025)	CARE A1+	0.72%
ICICI Bank Limited (07/08/2025)	ICRA A1+	0.72%
Axis Bank Limited (13/08/2025)	CRISIL A1+	0.72%
Axis Bank Limited (14/08/2025)	CRISIL A1+	0.72%
Canara Bank (20/08/2025)	CRISIL A1+	0.72%
HDFC Bank Limited (22/08/2025)	CARE A1+	0.72%
Sub Total		50.72%
Corporate Debt Market Development Fund A2
Corporate Debt Market Development Fund - Class A2 Units		0.18%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		1.93%
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)*	5.32%	5.42%	5.84%	6.18%	14,416	14,520	14,928	15,267
May 24, 2025 to May 31, 2025 (Last 7 Days)	6.17%	6.27%	6.16%	8.13%	10,617	10,627	10,616	10,813
May 16, 2025 to May 31, 2025 (Last 15 Days)	6.67%	6.77%	6.65%	8.34%	10,667	10,677	10,665	10,834
April 30, 2025 to May 31, 2025 (Last 1 Month)	6.42%	6.52%	6.42%	8.88%	10,642	10,652	10,642	10,888
February 28, 2025 to May 31, 2025 (Last 3 Month)	6.79%	6.89%	6.97%	9.29%	10,171	10,174	10,176	10,234
November 30, 2024 to May 31, 2025 (Last 6 Month)	6.77%	6.88%	7.02%	8.10%	10,338	10,343	10,350	10,404
May 31, 2024 to May 31, 2025 (Last 1 Year)	6.86%	6.97%	7.15%	8.00%	10,686	10,697	10,715	10,800
May 31, 2022 to May 31, 2025 (Last 3 Years)	6.50%	6.61%	6.92%	7.11%	12,082	12,118	12,227	12,290
May 31, 2020 to May 31, 2025 (Last 5 Years)	5.14%	5.25%	5.56%	5.52%	12,851	12,915	13,110	13,086

*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 May 31, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Liquid Fund Direct Plan Growth	2,927.27	42,51,680.83

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Liquid Fund amounts to ₹ 64.15 Crores of AUM as at May 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 -May 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 ELSS 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]