MUMBAI, OCTOBER 19: Mumbai-based PPFAS Mutual Fund expects 15-20 per cent growth in its assets under management by December 2017.
This is excluding daily changes in the net asset value of the fund. Currently, the AUM is around ₹ 670 crore. The monthly average net inflows of the fund is around ₹10 crore.
The fund is promoted by Parag Parikh Financial Advisory Services Pvt Ltd (PPFAS) and has only one fund — Parag Parikh Long Term Value Fund (earlier known as PPFAS Long Term Value Fund).
Neil Parikh, Chairman and CEO of the fund, said on the sidelines of its annual general meeting that growth will be led by the company’s increased marketing efforts and its primary focus on the online channel, besides social media and do-it-yourself platform (like ICICI Direct).
The fund started advertising on YouTube in September and will soon be launching a mobile app. Parikh also said the company will launch an equity-linked savings scheme whenever it plans a new scheme launch. However, this might take time as the company’s networth is a little less than the required norm of ₹50 crore.
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