However, an average of 65% of its corpus will be invested in listed Indian equities, in order to benefit from the favourable Capital Gains tax treatment accorded to such schemes.

The domestic equity portion of the scheme will be managed by Mr. Rajeev Thakkar and Mr. Rukun Tarachandani, while Raunak Onkar manages the foreign investment component. Raj Mehta and Ms. Mansi Kariya is responsible for the 'fixed income' investment component.

This scheme is only suitable for 'true' long term investors....

However, if you are an investor:

• Who knows the perils involved in instant gratification
• For whom the term 'long term' means a minimum period of five years.
• Who gets excited rather than repelled, when stock prices and valuations are low.
• For whom purchasing a stock is no different from purchasing a business.

Then we urge you to partner with us, as this scheme has been designed with you in mind.

We will follow a simple (though not simplistic) investment process. As we will not pay mere lip service to value investing, it may mean that often we will be purchasing businesses which are going through a painful phase and are therefore unloved. Each of them will blossom at different points and that is why, there may be extended periods when you may feel that 'nothing is happening'. While some may regard us as boring, we are adamant that we will never sacrifice prudence for the sake of providing excitement.

Also, the fund managers will attempt to profit from various cognitive and emotional biases displayed by companies and market participants. In other words, along with the dissection of financial statements, there will also be an overlay of the study of human emotions.

Guided by our strong conviction in the principle of compounding, we continue to offer the Growth Option. However, to provide choice and tax efficiency, we have also introduced IDCW Option, which could be a more tax-efficient choice for some investors, especially those in lower tax brackets. Under this option, any income you receive is added to your total taxable income and taxed as per your individual tax slab.

We urge the investors to consult with their tax advisors on which option (Growth or IDCW) is more suitable for them.

It is well known that to be successful in investing one must invest when others are fearful and divest when others are greedy. However, considering that Parag Parikh Flexi Cap Fund is an open ended scheme, its ability to invest during bear markets will depend on your behaviour as investors. If investors desert us when prices are low, it will naturally constrain our ability to make investments when valuations are alluring.

Being an equity mutual fund scheme, we cannot guarantee any returns. However, what we can assure you is that we will manage your money prudently in order to help you get closer to achieving your long-term financial goals.

This scheme is not for you if...

• You track mutual fund Net Asset Values everyday.
• To you, the term 'Long Term” is merely a year or two.
• You believe that investing should be 'exciting'
• You fear, rather than welcome, stock market volatility
• You believe you have the ability to time the market
• You are impressed by fund managers who profess to be magicians
• You prefer complex mutual fund products to simple ones.

Because, most likely, you will be disappointed!

Scheme Details and Risk Information

Parag Parikh Flexi Cap Fund This product is suitable for investors who are seeking* The investment objective of the Scheme is 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. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Download SID/SAI and KIM Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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