Parag Parikh Conservative Hybrid Fund

An open-ended hybrid scheme investing predominantly in debt instruments

Factsheet - SEPTEMBER 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	May 26, 2021
Name of the Fund Managers	Mr. Rajeev Thakkar - Chief Investment Officer - Equity and Director (Since Inception) Mr. Raunak Onkar - Fund Manager & Research Head (Since Inception) Mr. Raj Mehta - Executive Vice President & Fund Manager - Equity (Since September 1, 2025) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since May 16, 2022) Mr. Tejas Soman - Chief Investment Officer - Debt (Since September 1, 2025) 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 Sep. 30, 2025	₹ 3,028.40 Crores
Average AUM for the Month	₹ 2,995.34 Crores

Net Asset Value (NAV) as on Sep. 30, 2025
Regular Plan	15.2217
Direct Plan	15.4208
Regular Plan - Monthly IDCW	10.8765
Direct Plan - Monthly IDCW	11.0685

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)*	5.00
*Modified Duration (Years)^#**	3.9646
*Yield to Maturity^{^#$}**	6.97%
*Macaulay duration (Years)^#**	4.1223
*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; the Yield to Maturity (YTM) percentage presented are based on actual values and not indicative. # 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	2.05%
Coal India Limited	Consumable Fuels	2.00%
ITC Limited	Diversified FMCG	1.98%
Power Grid Corporation of India Limited	Power	1.98%
REC Limited	Finance	1.04%
Swaraj Engines Limited	Industrial Products	0.85%
Sub total		9.90%
Arbitrage and Special Situations
Name	Industry	% of Net Assets
^@UltraTech Cement Limited	Cement & Cement Products	0.99%
^@Reliance Industries Limited	Petroleum Products	0.92%
^@Kotak Mahindra Bank Limited	Banks	0.32%
^@Axis Bank Limited	Banks	0.25%
^@ICICI Bank Limited	Banks	0.18%
^@Punjab National Bank	Banks	0.12%
^@Bank of Baroda	Banks	0.08%
^@GMR Airports Limited	Transport Infrastructure	0.04%
^@HDFC Bank Limited	Banks	0.04%
^@Steel Authority of India Limited	Ferrous Metals	0.03%
^@Tata Consultancy Services Limited	IT - Software	0.02%
^@Jio Financial Services Limited	Finance	0.00%
Sub total		2.99%
Total		12.89%
Units issued by REITs & InvITs
Listed / awaiting listing on the stock exchanges
Name	Industry	% of Net Assets
Embassy Office Parks REIT	Realty	4.55%
Brookfield India Real Estate Trust	Realty	4.49%
Mindspace Business Parks REIT	Realty	0.74%
Sub total		9.78%
Debt and Money Market Instruments
Name	Rating	% of Net Assets
Corporate Bond
6.64% Power Finance Corporation Ltd NCD 250B (MD15/07/30)	CRISIL AAA	1.95%
7.40 % National Bank For Agriculture and Rural Development NCD (MD 29/04/2030)	CRISIL AAA	1.67%
7.3763% Bajaj Finance NCD (MD 26/06/2028)	CRISIL AAA	1.66%
7.58% REC Ltd NCD (MD 31/05/2029)	ICRA AAA	1.35%
7.64% National Bank For Agriculture and Rural Development NCD (MD 06/12/2029)	ICRA AAA	0.85%
7.75% LIC Housing Fin Ltd NCD (MD23/08/29)	CRISIL AAA	0.84%
7.47% Small Industries Development Bank of India NCD (MD 05/09/2029)	CRISIL AAA	0.84%
8.12% Bajaj Finance Ltd NCD (MD 10/09/27)	CRISIL AAA	0.84%
7.34% Small Industries Development Bank of India NCD (MD 26/02/2029)	CRISIL AAA	0.84%
7.38% Bajaj Finance Ltd NCD (MD 28/06/2030)	CRISIL AAA	0.83%
7.07% LIC Housing Finance NCD (MD 29/04/2030)	CRISIL AAA	0.82%
7.74% LIC Housing Finance NCD (MD 11/02/2028)	CRISIL AAA	0.67%
7.34% REC Ltd (MD 30/04/2030)	CRISIL AAA	0.50%
7.07% IndiGrid Inf NCD (20/06/2030)	CRISIL AAA	0.49%
8.37% REC Ltd NCD Ser 169 (MD 07/12/2028)	CRISIL AAA	0.35%
7.95% LIC Housing Finance Ltd NCD (29/01/28)P27/08	CRISIL AAA	0.17%
7.7% IndiGRID Infra Trust Ser 3 (MD 06/05/2028)	CRISIL AAA	0.17%
7.87% IndiGRID Infra Trust Ser Y (MD 24/02/2027)	CRISIL AAA	0.17%
Sub total		15.01%
Government securities/State Development Loans (SDLs)
7.08% Uttar Pradesh SDL (MD 17/02/2031)	Sovereign	4.96%
7.08% Karnataka SDL (MD 12/08/2031)	Sovereign	3.32%
7.93% Uttar Pradesh SDL (MD 24/03/2030)	Sovereign	2.58%
7.76% Maharashtra SDL (MD 04/10/2030)	Sovereign	2.57%
7.61% Gujarat SDL (MD 03/08/2032)	Sovereign	1.70%
7.02% GOI (MD 18/06/2031)	Sovereign	1.70%
7.33% Maharashtra SDL (MD 31/05/2031)	Sovereign	1.68%
7.14% Madhya Pradesh SDL (MD 19/03/2032)	Sovereign	1.66%
7.01% Gujarat SDL (MD 03/09/2031)	Sovereign	1.65%
7.39% Tamilnadu SDL (MD 12/06/2032)	Sovereign	1.51%
Other Government Securities	Sovereign	35.07%
Sub total		58.40%
Treasury Bills
364 Days Tbill (MD 30/07/2026)	Sovereign	0.16%
Sub total		0.16%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		1.08%
Sub total		1.08%
Corporate Debt Market Development Fund A2
Corporate Debt Market Development Fund - Class A2 Units		0.25%
Sub total		0.25%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		2.43%
Sub total		2.43%
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)
Sep 29, 2025	0.0461	0.0461	0.0352	0.0352	10.0000	10.8607	11.0523	10.8959	11.0984
Aug 25, 2025	0.0480	0.0480	0.0727	0.0727	10.0000	10.7877	10.9850	10.8603	11.033
July 28, 2025	0.0445	0.0445	0.0662	0.0662	10.0000	10.9362	11.1075	11.0024	11.152

Note: Pursuant to the payout of Dividend/Income Distribution cum Capital Withdrawal (IDCW), the Net Asset Value (NAV) of the scheme will fall to the extent of the payout and statutory levy, if any.

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)*	10.14%	10.47%	7.38%	5.31%	15,222	15,421	13,631	12,523
September 30, 2024 to September 30, 2025 (Last 1 Year)	6.23%	6.55%	5.09%	7.05%	10,623	10,655	10,509	10,705
September 30, 2022 to September 30, 2025 (Last 3 Years)	11.79%	12.12%	9.15%	8.48%	13,975	14,100	13,006	12,770

Source: Scheme Performance - Internal Benchmark Performance - CRISIL
*Since inception returns are calculated on Rs. 10 (allotment price)
^^ Point-to-point returns for a ₹10,000 lump sum investment made on the specified initial date and redeemed on the specified final date reflect growth based on prevailing NAVs of the Direct and Regular Plan – Growth Options
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	10.96%	19.36%	3.88%	4.18%
Parag Parikh Conservative Hybrid Fund - Dir - Growth	11.29%	19.72%	4.19%	4.20%
CRISIL Hybrid 85+15 Conservative Index	7.86%	13.91%	-0.31%	3.72%
3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Conservative Hybrid Fund - Reg - Growth	11.38%	12.68%	10.37%	0.53%
Parag Parikh Conservative Hybrid Fund - Dir - Growth	11.71%	13.02%	10.70%	0.53%
CRISIL Hybrid 85+15 Conservative Index	8.30%	10.58%	6.86%	1.03%
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)	September 30, 2024 to September 30, 2025 (Last 1 Year)	September 30, 2022 to September 30, 2025 (Last 3 Years)
Total Amount Invested	5,30,000	1,20,000	3,60,000
Market value of Investment	6,71,276	1,24,703	4,23,479
Market value of Investment (Direct)	6,76,130	1,24,905	4,25,544
(Regular) Returns (Annualised) (%)	10.68%	7.39%	10.85%
(Direct) Returns (Annualised) (%)	11.01%	7.71%	11.18%
Nifty 500 (TRI) Returns (Annualised) (%)	8.13%	5.94%	8.56%
Nifty 50 (TRI) Returns (Annualised) (%)	7.24%	5.69%	8.14%

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 Sep. 30, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Conservative Hybrid Fund - Direct Plan Growth	3,03,912.62	46,86,575.67

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Conservative Hybrid Fund amounts to ₹ 10.10 Crores
of AUM as at Sep. 30, 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 - SEPTEMBER 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 and Director (Since Inception) Mr. Raunak Onkar - Fund Manager & Research Head (Since Inception) Mr. Raj Mehta -Executive Vice President & Fund Manager - Equity (Since September 1, 2025) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since Inception) Mr. Tejas Soman -Chief Investment Officer - Debt (Since September 1, 2025) Ms. Aishwarya Dhar - Senior Manager & Fund Manager- Debt (Since September 1, 2025)
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 Sep. 30, 2025	₹ 1,893.46 Crores
Average AUM for the Month	₹ 1,880.06 Crores

Net Asset Value (NAV) as on Sep. 30, 2025
Regular Plan	11.3552
Direct Plan	11.4314

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)*	179.83
Modified Duration (Years)*	0.4610
*Yield to Maturity^{^$}**	6.09%
Macaulay duration (Years)*	0.4900
*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; the Yield to Maturity (YTM) percentage presented are based on actual values and not indicative. $ Applicable for both regular and direct plan

Hedge Equity / Arbitrage*
Name	Industry	% of Net Assets
Kotak Mahindra Bank Limited	Banks	2.18%
Power Finance Corporation Limited	Finance	0.46%
RBL Bank Limited	Banks	0.36%
Vodafone Idea Limited	Telecom - Services	0.36%
Reliance Industries Limited	Petroleum Products	3.67%
HDFC Bank Limited	Banks	3.57%
Axis Bank Limited	Banks	3.42%
Bharti Airtel Limited	Telecom - Services	3.02%
State Bank of India	Banks	2.92%
Bharat Heavy Electricals Limited	Electrical Equipment	2.50%
Other Equity		47.96%
Total		70.42%
Debt and Money Market Instruments
Name	Rating	% of Net Assets
Certificate of Deposit
Bank of Baroda (25/05/2026)	IND A1+	2.54%
Union Bank of India (25/06/2026)	ICRA A1+	2.52%
Small Industries Development Bank of India (09/07/2026)	CARE A1+	2.52%
Axis Bank Limited (11/08/2026)	CRISIL A1+	2.50%
HDFC Bank Limited (24/06/2026)	CRISIL A1+	1.26%
HDFC Bank Limited (11/09/2026)	CRISIL A1+	1.25%
National Bank For Agriculture and Rural Development (05/02/2026)	CRISIL A1+	0.78%
Sub total		13.37%
Commercial Paper
Name	Rating	% of Net Assets
REC Limited (10/06/2026)	CRISIL A1+	1.27%
National Bank For Agriculture and Rural Development (25/06/2026)	CRISIL A1+	1.26%
Bajaj Finance Limited (18/06/2026)	CRISIL A1+	1.26%
Sub total		3.79%
Treasury Bill
Name	Rating	% of Net Assets
364 Days Tbill (MD 29/01/2026)	Sovereign	0.52%
Sub total		0.52%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		11.23%
Sub total		11.23%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		0.67%
Sub total		0.67%
Net Assets		100.00%

*Outstanding Derivative exposure -70.83%

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)*	6.87%	7.25%	7.52%	7.20%	11,355	11,431	11,488	11,423
September 30, 2024 to September 30, 2025 (Last 1 Year)	6.44%	6.81%	7.87%	6.78%	10,644	10,681	10,787	10,678

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)	September 30, 2024 to September 30, 2025 (Last 1 Year)
Total Amount Invested	2,30,000	1,20,000
Market value of Investment (Regular)	2,45,032	1,23,829
Market value of Investment (Direct)	2,45,905	1,24,064
(Regular) Returns (Annualised) (%)	6.50%	6.00%
(Direct) Returns (Annualised) (%)	6.87%	6.37%
Nifty 50 Arbitrage (TRI) Returns (Annualised) (%)	7.35%	7.29%
CRISIL 1 Year T-Bill Index Returns (Annualised) (%)	6.94%	6.39%

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 Sep. 30, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Arbitrage Fund - Direct Plan Growth	72,026.22	8,23,360.19

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Arbitrage Fund amounts to ₹ 94.84 Crores of AUM as at Sep. 30, 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 - SEPTEMBER 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 Equity and Director (Since Inception) Mr. Raunak Onkar - Fund Manager & Research Head (Since Inception) Mr. Raj Mehta - Executive Vice President Fund Manager - Equity (Since September) Mr. Rukun Tarachandani - Executive Vice & Fund Manager - Equity (Since Inception) Mr. Tejas Soman - Chief Investment Officer (Since September 1, 2025) 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 Sep. 30, 2025	₹ 2,605.81 Crores
Average AUM for the Month	₹ 2,558.48 Crores

Net Asset Value (NAV) as on Sep. 30, 2025
Regular Plan	11.3500
Direct Plan	11.4050
Regular Plan - Monthly IDCW:	10.2461
Direct Plan - Monthly IDCW:	10.4409

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)*	4.85
*Modified Duration (Years)^#**	3.8258
*Yield to Maturity^{^#$}**	6.92%
*Macaulay duration (Years)^#**	3.9772
*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; the Yield to Maturity (YTM) percentage presented are based on actual values and not indicative. # 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
Petronet LNG Limited	Gas	2.55%
Coal India Limited	Consumable Fuels	2.49%
ITC Limited	Diversified FMCG	2.47%
Power Grid Corporation of India Limited	Power	2.46%
Nesco Limited	Commercial Services & Supplies	1.14%
Swaraj Engines Limited	Industrial Products	1.13%
REC Limited	Finance	1.02%
NIRLON LIMITED	Commercial Services & Supplies	0.10%
VST Industries Limited	Cigarettes & Tobacco Products	0.04%
Sub total		13.40%
Arbitrage
^@Reliance Industries Limited	Petroleum Products	3.39%
^@Bajaj Finance Limited	Finance	2.14%
^@Axis Bank Limited	Banks	2.03%
^@Kotak Mahindra Bank Limited	Banks	1.69%
^@UltraTech Cement Limited	Cement & Cement Products	1.29%
^@HDFC Bank Limited	Banks	1.16%
^@Bharat Heavy Electricals Limited	Electrical Equipment	1.05%
^@Eternal Limited	Retailing	1.02%
^@Bharti Airtel Limited	Telecom - Services	0.90%
^@Sammaan Capital Limited	Finance	0.80%
^@Others		8.35%
Sub total		23.82%
Total		37.22%
Debt and Money Market Instruments
Corporate Bond/NCD
6.64% Power Finance Corporation Ltd NCD (MD15/07/30)	CRISIL AAA	1.51%
7.95% LIC Housing Finance Ltd NCD (29/01/28)P27/08	CRISIL AAA	0.98%
7.74% LIC Housing Finance NCD (MD 11/02/2028)	CRISIL AAA	0.97%
7.57% LIC Housing Finance NCD (MD 18/10/2029)	CRISIL AAA	0.97%
7.40 % National Bank For Agriculture and Rural Development NCD (MD 29/04/2030)	CRISIL AAA	0.97%
7.34% Small Industries Development Bank of India NCD (MD 26/02/2029)	CRISIL AAA	0.97%
7.3763% Bajaj Finance NCD (MD 26/06/2028)	CRISIL AAA	0.96%
7.2337% Bajaj Finance Ltd NCD (MD 28/06/2027)	CRISIL AAA	0.96%
7.38% Bajaj Finance Ltd NCD (MD 28/06/2030)	CRISIL AAA	0.96%
7.64% National Bank For Agriculture and Rural Development NCD (MD 06/12/2029)	ICRA AAA	0.39%
7.58% REC Ltd NCD (MD 31/05/2029)	ICRA AAA	0.39%
7.34% REC Ltd (MD 30/04/2030)	CRISIL AAA	0.39%
7.07% IndiGrid Inf NCD SR AF (20/06/2030)	CRISIL AAA	0.38%
8.37% REC Ltd NCD Ser 169 (MD 07/12/2028)	CRISIL AAA	0.20%
7.95% REC Ltd NCD (MD 12/03/2027)	CRISIL AAA	0.20%
7.87% IndiGRID Infra Trust Ser Y (MD 24/02/2027)	CRISIL AAA	0.19%
6.07% National Bank For Agriculture and Rural Development NCD (MD 19/11/2027)	ICRA AAA	0.19%
Sub total		11.58%
Government securities/State Development Loans (SDLs)
7.6% Karnataka SDL (MD 04/01/2033)	Sovereign	2.55%
6.95% Tamilnadu SDL (MD 17/02/2031)	Sovereign	2.49%
7.61% Gujarat SDL (MD 03/08/2032)	Sovereign	1.98%
7.08% Uttar Pradesh SDL (MD 17/02/2031)	Sovereign	1.92%
7.01% Gujarat SDL (MD 03/09/2031)	Sovereign	1.92%
7.39% Tamilnadu SDL (MD 12/06/2032)	Sovereign	1.56%
7.81% Gujarat SDL (MD 12/10/2032)	Sovereign	1.40%
7.93% Uttar Pradesh SDL (MD 24/03/2030)	Sovereign	1.00%
Other Government Securities	Sovereign	28.83%
Sub total		43.65%
Treasury Bills
364 Days Tbill (MD 29/01/2026)	Sovereign	0.38%
364 Days Tbill (MD 30/07/2026)	Sovereign	0.18%
Sub total		0.56%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		4.52%
Sub total		4.52%
TREPS and Other Receivables and Payables
TREPS Including Cash & Cash Equivalent and Net Current Asset		2.47%
Sub total		2.47%
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)*	8.28%	8.61%	8.28%	8.10%	11,350	11,405	11,351	11,321
September 30, 2024 to September 30, 2025 (Last 1 Year)	4.59%	4.91%	0.91%	-3.45%	10,459	10,491	10,091	9,655

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)
Sep 29, 2025	0.0000	0.0000	0.0019	0.0019	10.000	10.2413	10.4359	10.2433	10.4359
Aug 25, 2025	0.0662	0.0662	0.0815	0.0815	10.000	10.2224	10.4117	10.3039	10.4779
Jul 28, 2025	0.0074	0.0074	0.0200	0.0200	10.000	10.3384	10.5106	10.3583	10.5180

SIP Investment Performance (Assumption : 10,000/- is invested on the first of every month)
Date	Since Inception (27 Feb, 2024)	September 30, 2024 to September 30, 2025 (Last 1 Year)
Total Amount Invested	2,00,000	1,20,000
Market value of Investment (Regular Plan)	2,11,322	1,23,347
Market value of Investment (Direct Plan)	2,11,894	1,23,552
(Regular Plan) Returns (Annualised) (%)	6.50%	5.24%
(Direct Plan) Returns (Annualised) (%)	6.83%	5.56%
CRISIL Hybrid 50+50 - Moderate Index (Annualised) (%)	6.01%	5.41%
Nifty 50 TRI (Annualised) (%)	5.16%	4.96%

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 Sep. 30, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Dynamic Asset Allocation Fund - Direct Plan Growth	84,679.56	9,65,770.50

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Dynamic Asset Allocation Fund amounts to ₹ 21.70 Crores of AUM as at Sep. 30, 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 - SEPTEMBER 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. 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 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 and Director (Since Inception) Mr. Raunak Onkar - Fund Manager & Research Head (Since Inception) Mr. Raj Mehta - Executive Vice President & Fund Manager - Equity (Since September 1, 2025) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since May 16, 2022) Mr. Tejas Soman - Chief Investment Officer - Debt (Since September 1, 2025) Ms. Mansi Kariya - Associate Vice President & Fund Manager- Debt (Since December 22, 2023) Ms. Aishwarya Dhar - Senior Manager & Fund Manager- Debt (Since September 1, 2025)
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 Sep. 30, 2025	₹ 1,19,723.32 Crores
Average AUM for the Month	₹ 1,19,654.29 Crores

Net Asset Value (NAV) as on Sep. 30, 2025
Regular Plan:	84.3981
Direct Plan:	92.0956

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	0.57
Standard Deviation	8.50%
Sharpe Ratio	1.70
Portfolio Turnover (excl Equity Arbitrage)	14.18%
Portfolio Turnover (incl Equity Arbitrage)	37.19%
- Above figures are annualised. - Risk free rate assumed to be 5.74% (FBIL Overnight MIBOR as on Sep. 30, 2025)

Portfolio Disclosure
Core Equity
Name	Industry	% of Net Assets
HDFC Bank Limited	Banks	8.08%
Power Grid Corporation of India Limited	Power	5.99%
Bajaj Holdings & Investment Limited	Finance	5.44%
Coal India Limited	Consumable Fuels	5.28%
ICICI Bank Limited	Banks	4.75%
ITC Limited	Diversified FMCG	4.55%
Kotak Mahindra Bank Limited	Banks	4.03%
Maruti Suzuki India Limited	Automobiles	3.61%
Mahindra & Mahindra Limited	Automobiles	3.53%
Bharti Airtel Limited	Telecom - Services	3.32%
Axis Bank Limited	Banks	3.14%
HCL Technologies Limited	IT - Software	2.16%
Cipla Limited	Pharmaceuticals & Biotechnology	1.25%
Zydus Lifesciences Limited	Pharmaceuticals & Biotechnology	1.24%
Dr. Reddy's Laboratories Limited	Pharmaceuticals & Biotechnology	1.24%
Infosys Limited	IT - Software	1.12%
Indian Energy Exchange Limited	Capital Markets	0.94%
Zydus Wellness Limited	Food Products	0.84%
Balkrishna Industries Limited	Auto Components	0.80%
Multi Commodity Exchange of India Limited	Capital Markets	0.52%
EID Parry India Limited	Food Products	0.43%
Narayana Hrudayalaya Limited	Healthcare Services	0.29%
Central Depository Services (India) Limited	Capital Markets	0.28%
ICRA Limited	Capital Markets	0.15%
Maharashtra Scooters Limited	Finance	0.12%
Nesco Limited	Commercial Services & Supplies	0.02%
Swaraj Engines Limited	Industrial Products	0.02%
Sub Total		63.14%
Arbitrage and Special Situations
^@Reliance Industries Limited	Petroleum Products	0.71%
^@Bajaj Finance Limited	Finance	0.21%
^@Tata Consultancy Services Limited	IT - Software	0.14%
^@Jio Financial Services Limited	Finance	0.12%
^@Larsen & Toubro Limited	Construction	0.09%
^@Others		1.03%
Sub total		2.30%
Total		65.44%
Overseas Securities, IDRS and ADRs
Alphabet Inc A	Computer Software	3.41%
Meta Platforms Registered Shares A	Computer Software	3.22%
Microsoft Corp	Computer Software	2.82%
Amazon Com Inc	Catalog/Specialty Distribution	2.24%
Total		11.69%
Debt and Money Market Instruments
Embassy Office Parks REIT	Realty	0.51%
Brookfield India Real Estate Trust	Realty	0.12%
Mindspace Business Parks REIT	Realty	0.03%
Total		0.66%
Debt and Money Market Instruments
Certificate of Deposit	Rating
Kotak Mahindra Bank Limited (24/09/2026)	CRISIL A1+	0.55%
Axis Bank Limited (11/08/2026)	CRISIL A1+	0.51%
ICICI Bank Limited (14/11/2025)	ICRA A1+	0.50%
Punjab National Bank (05/12/2025)	CRISIL A1+	0.50%
HDFC Bank Limited (10/09/2026)	CRISIL A1+	0.39%
National Bank For Agriculture and Rural Development (18/09/2026)	CRISIL A1+	0.39%
Small Industries Development Bank of India (05/05/2026)	CRISIL A1+	0.38%
HDFC Bank Limited (24/06/2026)	CRISIL A1+	0.32%
Union Bank of India (25/06/2026)	ICRA A1+	0.32%
National Bank For Agriculture and Rural Development (22/01/2026)	CRISIL A1+	0.31%
Bank of Baroda (23/07/2026)	IND A1+	0.26%
Indian Bank (06/03/2026)	CRISIL A1+	0.24%
Axis Bank Limited (11/06/2026)	CRISIL A1+	0.24%
Indian Bank (28/07/2026)	CRISIL A1+	0.24%
Bank of Baroda (16/09/2026)	IND A1+	0.24%
Small Industries Development Bank of India (24/09/2026)	CRISIL A1+	0.24%
Kotak Mahindra Bank Limited (11/12/2025)	CRISIL A1+	0.21%
Bank of Baroda (09/01/2026)	IND A1+	0.21%
Bank of Baroda (13/01/2026)	IND A1+	0.21%
Canara Bank (27/02/2026)	CRISIL A1+	0.20%
Bank of Baroda (25/05/2026)	IND A1+	0.20%
National Bank For Agriculture and Rural Development (20/01/2026)	CRISIL A1+	0.18%
HDFC Bank Limited (19/05/2026)	CRISIL A1+	0.18%
Union Bank of India (26/11/2025)	ICRA A1+	0.17%
Kotak Mahindra Bank Limited (04/12/2025)	CRISIL A1+	0.17%
Punjab National Bank (08/01/2026)	CRISIL A1+	0.16%
Union Bank of India (16/01/2026)	ICRA A1+	0.16%
Canara Bank (04/03/2026)	CRISIL A1+	0.16%
Punjab National Bank (18/03/2026)	CRISIL A1+	0.16%
Indian Bank (06/05/2026)	CRISIL A1+	0.16%
HDFC Bank Limited (24/03/2026)	CRISIL A1+	0.14%
Axis Bank Limited (25/06/2026)	CRISIL A1+	0.14%
Small Industries Development Bank of India (13/01/2026)	CARE A1+	0.12%
Small Industries Development Bank of India(09/07/2026)	CARE A1+	0.12%
HDFC Bank Limited (10/10/2025)	CARE A1+	0.08%
HDFC Bank Limited (31/10/2025)	CRISIL A1+	0.08%
Kotak Mahindra Bank Limited (26/11/2025)	CRISIL A1+	0.08%
Canara Bank (04/12/2025)	CRISIL A1+	0.08%
Union Bank of India (05/12/2025)	ICRA A1+	0.08%
Axis Bank Limited (08/01/2026)	CRISIL A1+	0.08%
Union Bank of India (10/01/2026)	IND A1+	0.08%
Kotak Mahindra Bank Limited (15/01/2026)	CRISIL A1+	0.08%
Punjab National Bank (16/01/2026)	CARE A1+	0.08%
Indian Bank (19/01/2026)	CRISIL A1+	0.08%
Canara Bank (30/01/2026)	CRISIL A1+	0.08%
Canara Bank (03/02/2026)	CRISIL A1+	0.08%
Kotak Mahindra Bank Limited (13/03/2026)	CRISIL A1+	0.08%
Axis Bank Limited (12/06/2026)	CRISIL A1+	0.08%
Axis Bank Limited (10/08/2026)	CRISIL A1+	0.08%
Axis Bank Limited (04/02/2026)	CRISIL A1+	0.06%
Indian Bank (06/11/2025)	CRISIL A1+	0.04%
Indian Bank (04/12/2025)	CRISIL A1+	0.04%
Indian Bank (08/01/2026)	CRISIL A1+	0.04%
Union Bank of India (29/01/2026)	IND A1+	0.04%
Sub total		10.10%
Commercial Paper
National Bank For Agriculture and Rural Development (25/06/2026)	CRISIL A1+	0.36%
Bajaj Finance Limited (18/06/2026)	CRISIL A1+	0.24%
Bajaj Finance Limited (06/05/2026)	CRISIL A1+	0.16%
Bajaj Finance Limited (26/05/2026)	CRISIL A1+	0.16%
Bajaj Finance Limited (07/05/2026)	CRISIL A1+	0.08%
Sub total		1.00%
Mutual Fund Units
Parag Parikh Liquid Fund- Direct Plan- Growth		0.43%
Sub total		0.43%
T-Bill	Rating
364 Days Tbill (MD 04/12/2025)	Sovereign	0.25%
364 Days Tbill (MD 29/01/2026)	Sovereign	0.16%
364 Days Tbill (MD 21/11/2025)	Sovereign	0.09%
364 Days Tbill (MD 30/07/2026)	Sovereign	0.09%
364 Days Tbill (MD 16/04/2026)	Sovereign	0.08%
364 Days Tbill (MD 27/11/2025)	Sovereign	0.04%
TREPS Including Cash & Cash Equivalent and Net Current Asset	Cash & Cash Equivalent	9.97%
Sub total		10.68%
Total		22.21%
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)*	18.83%	19.67%	14.92%	13.53%	84,398	92,096	55,795	47,993
September 30, 2024 to September 30, 2025 (Last 1 Year)	3.23%	3.93%	-5.28%	-3.45%	10,323	10,393	9,472	9,655
September 30, 2022 to September 30, 2025 (Last 3 Years)	21.74%	22.65%	16.38%	14.21%	18,054	18,459	15,771	14,904
September 30, 2020 to September 30, 2025 (Last 5 Years)	21.78%	22.82%	20.70%	18.36%	26,799	27,966	25,630	23,241
September 30, 2015 to September 30, 2025 (Last 10 Years)	18.11%	19.01%	14.34%	13.34%	52,900	57,076	38,226	35,010

Source: Scheme Performance - Internal Benchmark Performance - CRISIL
*Since inception returns are calculated on Rs. 10 (allotment price)
^^Point-to-point returns for a ₹10,000 lump sum investment made on the specified initial date and redeemed on the specified final date reflect growth based on prevailing NAVs of the Direct and Regular Plan – Growth Options
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)	September 30, 2024 to September 30, 2025 (Last 1 Year)	September 30, 2022 to September 30, 2025 (Last 3 Years)	September 30, 2020 to September 30, 2025 (Last 5 Years)	September 30, 2015 to September 30, 2025 (Last 10 Years)
Total Amount Invested	14,90,000	1,20,000	3,60,000	6,00,000	12,00,000
Market value of Investment (Regular)	52,01,422	1,24,979	4,70,703	9,47,733	32,99,543
Market value of Investment (Direct)	55,40,068	1,25,426	4,76,428	9,69,823	34,74,033
(Regular) Returns (Annualised) (%)	18.65%	7.82%	18.23%	18.34%	19.21%
(Direct) Returns (Annualised) (%)	19.55%	8.53%	19.09%	19.29%	20.16%
Nifty 500 (TRI) Returns (Annualised) (%)	14.87%	4.84%	13.50%	14.95%	15.27%
Nifty 50 (TRI) Returns (Annualised) (%)	13.53%	5.08%	11.31%	12.72%	13.97%

3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	18.25%	36.29%	0.07%	5.76%
Parag Parikh Flexi Cap Fund - Direct - Growth	19.14%	37.64%	0.74%	5.93%
Tier I Benchmark Index - Nifty 500 TRI	14.86%	33.50%	-6.31%	5.80%
5 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	18.45%	32.75%	3.44%	5.05%
Parag Parikh Flexi Cap Fund - Direct - Growth	19.35%	33.93%	4.09%	5.19%
Tier I Benchmark Index - Nifty 500 TRI	14.54%	28.87%	-1.05%	4.93%
10 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh Flexi Cap Fund - Reg - Growth	18.38%	20.60%	16.35%	0.93%
Parag Parikh Flexi Cap Fund - Direct - Growth	19.26%	21.48%	17.23%	0.92%
Tier I Benchmark Index - Nifty 500 TRI	14.83%	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 Sep. 30, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Flexi Cap Fund - Direct Plan	15,38,380.82	14,16,78,102.13

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Flexi Cap Fund amounts to ₹ 535.61 Crores of AUM as at Sep. 30, 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 - SEPTEMBER 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 and Director (Since Inception) Mr. Raunak Onkar - Fund Manager & Research Head (Since Inception) Mr. Raj Mehta - Executive Vice President & Fund Manager - Equity (Since September 1, 2025) Mr. Rukun Tarachandani - Executive Vice President & Fund Manager - Equity (Since May 16, 2022) Mr. Tejas Soman - Chief Investment Officer - Debt (Since September 1, 2025) Ms. Aishwarya Dhar - Senior Manager & Fund Manager- Debt (Since September 1, 2025)
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 Sep. 30, 2025	₹ 5,638.79 Crores
Average AUM for the Month	₹ 5,718.41 Crores

Net Asset Value (NAV) as on Sep. 30,2025
Regular Plan	31.4469
Direct Plan	33.8707

Entry Load	Not Applicable
Exit Load	NIL

Beta	0.68
Standard Deviation	9.75%
Sharpe Ratio	1.18
Portfolio Turnover	12.93%
- Above figures are annualised. - Risk free rate assumed to be 5.74% (FBIL Overnight MIBOR as on Sep. 30, 2025)

Core Equity
Name	Industry	% of Net Assets
HDFC Bank Limited	Banks	8.05%
Bajaj Holdings & Investment Limited	Finance	7.36%
Maharashtra Scooters Limited	Finance	7.21%
Power Grid Corporation of India Limited	Power	6.05%
Coal India Limited	Consumable Fuels	5.68%
ITC Limited	Diversified FMCG	5.13%
ICICI Bank Limited	Banks	4.87%
Maruti Suzuki India Limited	Automobiles	4.52%
Kotak Mahindra Bank Limited	Banks	4.11%
Mahindra & Mahindra Limited	Automobiles	3.79%
Bharti Airtel Limited	Telecom - Services	3.49%
Infosys Limited	IT - Software	3.43%
HCL Technologies Limited	IT - Software	3.24%
Axis Bank Limited	Banks	3.21%
Wipro Limited	IT - Software	2.10%
CCL Products (India) Limited	Agricultural Food & other Products	1.99%
Tata Consultancy Services Limited	IT - Software	1.74%
Zydus Lifesciences Limited	Pharmaceuticals & Biotechnology	1.31%
Cipla Limited	Pharmaceuticals & Biotechnology	1.26%
Dr. Reddy's Laboratories Limited	Pharmaceuticals & Biotechnology	1.25%
Balkrishna Industries Limited	Auto Components	1.01%
CMS Info System Limited	Commercial Services & Supplies	0.99%
Indian Energy Exchange Limited	Capital Markets	0.98%
Zydus Wellness Limited	Food Products	0.92%
EID Parry India Limited	Food Products	0.49%
Multi Commodity Exchange of India Limited	Capital Markets	0.44%
Narayana Hrudayalaya Limited	Healthcare Services	0.32%
Central Depository Services (India) Limited	Capital Markets	0.27%
Swaraj Engines Limited	Industrial Products	0.23%
VST Industries Limited	Cigarettes & Tobacco Products	0.12%
ICRA Limited	Capital Markets	0.07%
Nesco Limited	Commercial Services & Supplies	0.03%
Total		85.66%
Debt and Money Market Instruments
Certificate of Deposit	Rating
Bank of Baroda (13/01/2026)	IND A1+	0.87%
Kotak Mahindra Bank Limited (15/01/2026)	CRISIL A1+	0.87%
Axis Bank Limited (05/02/2026)	CRISIL A1+	0.87%
HDFC Bank Limited (24/03/2026)	CRISIL A1+	0.86%
Small Industries Development Bank of India (05/05/2026)	CRISIL A1+	0.85%
Union Bank of India (25/06/2026)	ICRA A1+	0.85%
ICICI Bank Limited (14/11/2025)	ICRA A1+	0.44%
Indian Bank (04/12/2025)	CRISIL A1+	0.44%
Punjab National Bank (08/01/2026)	CRISIL A1+	0.44%
Small Industries Development Bank of India (13/01/2026)	CARE A1+	0.44%
National Bank For Agriculture and Rural Development (20/01/2026)	CRISIL A1+	0.44%
HDFC Bank Limited (06/02/2026)	CRISIL A1+	0.43%
Kotak Mahindra Bank Limited (18/02/2026)	CRISIL A1+	0.43%
National Bank For Agriculture and Rural Development (17/02/2026)	ICRA A1+	0.43%
Axis Bank Limited (11/06/2026)	CRISIL A1+	0.42%
Bank of Baroda (23/07/2026)	IND A1+	0.42%
Sub total		9.50%
Commercial Paper
Bajaj Finance Limited (18/06/2026)	CRISIL A1+	0.85%
REC Limited (10/06/2026)	CRISIL A1+	0.42%
National Bank For Agriculture and Rural Development (25/06/2026)	CRISIL A1+	0.42%
Sub total		1.69%
Treasury Bill
364 Days Tbill (MD 29/01/2026)	Sovereign	0.17%
364 Days Tbill (MD 21/11/2025)	Sovereign	0.09%
364 Days Tbill (MD 30/07/2026)	Sovereign	0.08%
Sub total		0.34%
Reverse Repo / TREPS and Other Receivables and Payables
TRP_010825	Debt and Money Market Instruments	2.81%
Sub total		2.81%
Total		14.34%
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)*	20.33%	21.78%	17.03%	14.79%	31,447	33,871	26,474	23,488
September 30, 2024 to September 30, 2025 (Last 1 Year)	-0.41%	0.69%	-5.28%	-3.45%	9,959	10,069	9,472	9,655
September 30, 2022 to September 30, 2025 (Last 3 Years)	18.08%	19.43%	16.38%	14.21%	16,472	17,042	15,771	14,904
September 30, 2020 to September 30, 2025 (Last 5 Years)	20.41%	21.85%	20.70%	18.36%	25,324	26,881	25,630	23,241

Source: Scheme Performance - Internal Benchmark Performance - CRISIL
*Since inception returns are calculated on Rs. 10 (allotment price)
^^Point-to-point returns for a ₹10,000 lump sum investment made on the specified initial date and redeemed on the specified final date reflect growth based on prevailing NAVs of the Direct and Regular Plan – Growth Options
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)	September 30, 2024 to September 30, 2025 (Last 1 Year)	September 30, 2022 to September 30, 2025 (Last 3 Years)	September 30, 2020 to September 30, 2025 (Last 5 Years)
Total Amount Invested	7,50,000	1,20,000	3,60,000	6,00,000
Market value of Investment	13,76,110	1,23,174	4,49,334	9,13,483
Market value of Investment (Direct)	14,40,203	1,23,905	4,57,770	9,45,108
(Regular) Returns (Annualised) (%)	19.25%	4.97%	14.95%	16.84%
(Direct) Returns (Annualised) (%)	20.71%	6.12%	16.26%	18.23%
Nifty 500 (TRI) Returns (Annualised) (%)	16.99%	4.84%	13.50%	14.95%
Nifty 50 (TRI) Returns (Annualised) (%)	14.65%	5.08%	11.31%	12.72%

3 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh ELSS Tax Saver Fund - Regular - Growth	22.01%	35.78%	14.07%	3.78%
Parag Parikh ELSS Tax Saver Fund - Direct - Growth	23.52%	37.51%	15.42%	3.87%
Tier I Benchmark Index - Nifty 500 TRI	19.37%	33.50%	10.85%	3.83%
5 Years Rolling Return	Average	Maximum	Minimum	Std. Deviation
Parag Parikh ELSS Tax Saver Fund - Regular - Growth	24.23%	30.79%	20.41%	2.17%
Parag Parikh ELSS Tax Saver Fund - Direct - Growth	25.74%	32.36%	21.85%	2.20%
Tier I Benchmark Index - Nifty 500 TRI	21.60%	28.87%	16.89%	2.57%
- 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 Sep. 30, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh ELSS Tax Saver Fund - Direct Plan	1,92,098.96	65,06,526.50

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh ELSS Tax Saver Fund amounts to ₹ 68.01 Crores of AUM as at Sep. 30, 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 - SEPTEMBER 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. Tejas Soman - Chief Investment Officer - Debt (Since September 1, 2025) Ms. Mansi Kariya - Associate Vice President & Fund Manager- Debt (Since December 22, 2023) Ms. Aishwarya Dhar - Senior Manager & Fund Manager- Debt (Since September 1, 2025)
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
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 Sept. 30, 2025	₹ 3,866.94 Crores
Average AUM for the Month	₹ 3,919.54 Crores

Plan	Direct	Regular
Growth	1480.0060	1468.9909
Daily Reinvestment of Income Distribution cum capital withdrawal option	1000.5405	1000.5404
Weekly Reinvestment of Income Distribution cum capital withdrawal option	1001.4260	1001.4231
Monthly Income Distribution cum capital withdrawal option	1003.4270	1003.4243

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)
Sep 29, 2025	5.1624	5.1624	5.0651	5.0651	1,000	1,003	1,003	1008.0651	1008.1624
Aug 25, 2025	4.2547	4.2547	4.1777	4.1777	1,000	1,003	1,003	1007.1777	1007.2547
July 28, 2025	4.3684	4.3684	4.2910	4.2910	1,000	1,003	1,003	1007.2910	1007.3684

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)	55.93
Modified duration (Years)^#	0.1423
Yield to Maturity^#^$	5.73%
Macaulay Duration (Years)^#	0.1505
* Computed on the invested amount # All the above ratios are computed excluding investment in CDMDF units $ Applicable for both regular and direct plan; the Yield to Maturity (YTM) percentage presented are based on actual values and not indicative.

Source: Internal sources

Treasury Bills
Name	Rating	% of Net Assets
91 Days Tbill (MD 13/11/2025)	Sovereign	3.85%
182 Days Tbill (MD 23/10/2025)	Sovereign	2.58%
91 Days Tbill (MD 06/11/2025)	Sovereign	2.57%
91 Days Tbill (MD 28/11/2025)	Sovereign	2.56%
91 Days Tbill (MD 30/10/2025)	Sovereign	1.93%
182 Days Tbill (MD 18/12/2025)	Sovereign	1.92%
91 Days Tbill (MD 02/10/2025)	Sovereign	1.29%
91 Days Tbill (MD 09/10/2025)	Sovereign	1.29%
182 Days Tbill (MD 16/10/2025)	Sovereign	1.29%
91 Days Tbill (MD 16/10/2025)	Sovereign	1.29%
91 Days Tbill (MD 11/12/2025)	Sovereign	0.64%
Sub Total		21.21%
Non Convertible Debentures
Small Industries Development Bank of India (25/11/2025)	ICRA AAA	2.59%
7.59% Power Finance Corporation Limited (03/11/2025)	CRISIL AAA	1.29%
8.11% REC Limited (07/10/2025)	CRISIL AAA	1.29%
5.45% NTPC Limited (15/10/2025)	CRISIL AAA	1.29%
Sub Total		6.46%
Commercial Paper
Power Finance Corporation Limited (15/12/2025)	CRISIL A1+	3.83%
National Bank For Agriculture and Rural Development (10/12/2025)	ICRA A1+	2.56%
Indian Oil Corporation Limited (19/12/2025)	CRISIL A1+	2.55%
Bajaj Finance Limited (04/12/2025)	CRISIL A1+	2.43%
Small Industries Development Bank of India (24/10/2025)	CARE A1+	1.93%
National Bank For Agriculture and Rural Development (19/12/2025)	CRISIL A1+	1.92%
Indian Oil Corporation Limited (04/11/2025)	CRISIL A1+	1.29%
Indian Oil Corporation Limited (07/11/2025)	CRISIL A1+	1.29%
Export Import Bank of India (17/11/2025)	CRISIL A1+	1.28%
Indian Oil Corporation Limited (24/12/2025)	CRISIL A1+	1.28%
Bajaj Finance Limited (14/10/2025)	ICRA A1+	0.64%
National Bank For Agriculture and Rural Development (20/10/2025)	CRISIL A1+	0.64%
Export Import Bank of India (10/11/2025)	CRISIL A1+	0.64%
Export Import Bank of India (24/10/2025)	CRISIL A1+	0.13%
Sub Total		22.41%
Certificate of Deposit
Axis Bank Limited (17/12/2025)	CRISIL A1+	3.83%
Union Bank of India (22/12/2025)	IND A1+	3.83%
Union Bank of India (23/12/2025)	ICRA A1+	3.83%
Bank of Baroda (03/11/2025)	IND A1+	3.22%
Kotak Mahindra Bank Limited (28/11/2025)	CRISIL A1+	3.20%
Kotak Mahindra Bank Limited (04/12/2025)	CRISIL A1+	3.20%
Small Industries Development Bank of India (09/10/2025)	CARE A1+	2.58%
Canara Bank (04/11/2025)	CRISIL A1+	2.57%
Canara Bank (12/12/2025)	CRISIL A1+	2.56%
Bank of Baroda (16/12/2025)	IND A1+	2.56%
Axis Bank Limited (16/12/2025)	CRISIL A1+	2.56%
Canara Bank (18/12/2025)	CRISIL A1+	2.55%
HDFC Bank Limited (18/12/2025)	CARE A1+	2.55%
HDFC Bank Limited (22/12/2025)	CARE A1+	2.55%
HDFC Bank Limited (03/12/2025)	CRISIL A1+	1.92%
Axis Bank Limited (13/11/2025)	CRISIL A1+	1.28%
Bank of Baroda (26/12/2025)	IND A1+	1.28%
Small Industries Development Bank of India (07/11/2025)	CARE A1+	0.64%
Canara Bank (19/11/2025)	CRISIL A1+	0.64%
Small Industries Development Bank of India (05/12/2025)	CRISIL A1+	0.64%
Canara Bank (26/12/2025)	CRISIL A1+	0.64%
Punjab National Bank (05/12/2025)	CRISIL A1+	0.38%
Sub Total		49.01%
Corporate Debt Market Development Fund A2
Corporate Debt Market Development Fund - Class A2 Units		0.26%
Reverse Repo / TREPS and Other Receivables and Payables
TRP_011025		0.65%
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	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)*	5.34%	5.44%	5.84%	6.10%	14,690	14,800	15,217	15,495
September 23, 2025 to September 30, 2025 (Last 7 days)	6.17%	6.27%	6.00%	4.81%	10,012	10,012	10,012	10,009
September 15, 2025 to September 30, 2025 (Last 15 Days)	5.85%	5.95%	5.96%	5.67%	10,024	10,024	10,024	10,023
August 31, 2025 to September 30, 2025 (Last 1 Month)	5.62%	5.72%	5.69%	4.94%	10,046	10,047	10,047	10,041
June 30, 2025 to September 30, 2025 (Last 3 Month)	5.55%	5.65%	5.67%	4.09%	10,140	10,142	10,143	10,103
March 31, 2025 to September 30, 2025 (Last 6 Month)	6.01%	6.12%	6.14%	6.50%	10,301	10,307	10,308	10,326
September 30, 2024 to September 30, 2025 (Last 1 Year)	6.49%	6.60%	6.72%	6.78%	10,649	10,660	10,672	10,678
September 30, 2022 to September 30, 2025 (Last 3 Years)	6.61%	6.72%	6.99%	7.05%	12,121	12,157	12,250	12,271
September 30, 2020 to September 30, 2025 (Last 5 Years)	5.33%	5.43%	5.72%	5.63%	12,966	13,030	13,207	13,154

Source: Scheme Performance - Internal Benchmark Performance - CRISIL
*Since inception returns are calculated on Rs. 1000 (allotment price)
^^ Point-to-point returns for a ₹10,000 lump sum investment made on the specified initial date and redeemed on the specified final date reflect growth based on prevailing NAVs of the Direct and Regular Plan – Growth Options
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.

Potential Risk Class (PRC) of Parag Parikh Liquid Fund

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 Sep. 30, 2025.

Scheme	Units	AUM (in Rs.)
Parag Parikh Liquid Fund Direct Plan Growth	2,845.75	42,11,706.35

We have our Skin in the Game
The combined holding of 'Insiders' in Parag Parikh Liquid Fund amounts to ₹ 78.66 Crores of AUM as at Sep. 30, 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 -September 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]