PPFAS Mutual Fund Raises its Net Worth to Over Rs. 50 Crore

MUMBAI, January 4, 2017 /PRNewswire/ --

In compliance with market regulator SEBI's stipulation, PPFAS Mutual Fund, sponsored by Parag Parikh Financial Advisory Services Pvt. Ltd. (PPFAS) has raised its net worth to over Rs. 50 crore. This has been attained well before the mandated deadline of May 2017.

The audited net worth of PPFAS Asset Management Company Private Limited (PPFAS AMC) is at Rs. 51.53 crore as on 30th November 2016. It has infused a capital of Rs. 4,66,40,000 (Rs. 4.66 crore) by undertaking a Rights Issue. This Issue was approved by the Board of PPFAS AMC at its Board Meeting held on 26th September 2016.

Neil Parag Parikh, Chairman and CEO, PPFAS Mutual Fund said, "PPFAS Mutual Fund is committed to build the business to the next level. We were confident of achieving the requirement of Rs. 50 crore of net worth and I am happy to inform you that we have reached that mark before the time set by the regulator."

He further added, "Apart from the Rights Issue, we have relied on internal accruals for this accretion. Also, the fact that the 'skin in the game' of the Parikh family and other key management personnel has actually increased after this Issue is a firm demonstration of our commitment to the company launched by my father."

About PPFAS Mutual Fund: 

PPFAS Asset Management Private Limited (PPFAS AMC) has been sponsored by Parag Parikh Financial Advisory Services Pvt. Ltd. (PPFAS Pvt. Ltd.), a boutique investment advisory firm incorporated in 1992. The sponsor was amongst India's earliest SEBI Registered Portfolio Management Service (PMS) providers, having secured a license in 1996.

The company is led by Mr. Neil Parag Parikh, the Chairman and CEO, since May 2015. Prior to that, it was led by the Founder, (Late) Mr. Parag S. Parikh.

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

Sponsor: Parag Parikh Financial Advisory Services Private Limited. [CIN: U67190MH1992PTC068970], Trustee: PPFAS Trustee Company Private Limited. [CIN: U65100MH2011PTC221203], Investment Manager (AMC): PPFAS Asset Management Private Limited. [CIN: U65100MH2011PTC220623]

Media Contact: 
Shailendra Pandey
Head - Corporate Communications
PPFAS Asset Management Private Limited
[email protected] 
+91-9321465947