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PPFAS Mutual Fund :: We have our skin in the game

We have our skin in the game

Total number of units held by 'Insiders' in the scheme as at 31-08-2017 = 4,72,66,473.
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The market value of these holdings as on 22-09-2017 is Rs. 1,05,19,29,537. This amounts to 12.39% of the current AUM.

At PPFAS Mutual Fund, we are inspired by The Hammurabi Code.

Around 18th Century BC lived a King named Hammurabi who instituted a social law now known as the Hammurabi's code. It is the one of the first evidence of law ever written down. One of the principle features of the code was about the builder - If a builder built a house for a man & the house collapses to cause the death of the owner, then the builder has to be put to death.

Such a punishment seems incredibly harsh especially when there can be many reasons for the collapse. But with such a heavy downside in place, the builder has absolutely no incentive to cut corners in constructing the house. He has to use the best materials & the best building techniques to build the best possible house which will last for a long time. The builder literally has his own skin in the success & longevity of the building.

This type of a system ensures a very strict moral obligation & not just a professional responsibility. How could this same moral obligation be translated to the fund management business?

Ideally, in the fund management profession, the only way to instill a sense of accountability is to ensure that the Fund Management team is investing their own monies along with those of the clients'. At PPFAS Mutual Fund, this ideal transcends into reality, as the key stakeholders in the Fund have invested a substantial portion of their equity investments in Parag Parikh Long Term Value Fund.

Having our own skin in the game demonstrates the willingness to link our financial well-being with yours. This also places an implicit onus on us to make optimum use of our time & abilities in order to enhance the scheme's performance and eschew the reckless behaviour that fund managers are sometimes accused of.

By investing in our scheme and disclosing it every month, we are going beyond the extant Regulations. We believe that this one disclosure will serve to inspire greater confidence among our unitholders, than thousands of tomes of assurances ever can.

Details of Insider Holdings as at August 31, 2017

    Name Designation Number of units held
    Suneel Rasmikant Gautam Director 1,03,23,332
    Sahil P Parikh Director 11,51,204
    PPFAS Limited Sponsor Company 4,88,172
    Note: These holdings include those of the individual as well as his immediate/dependent family members.
    Name Designation Number of units held
    Geeta Parag Parikh - 1,74,62,152
    PPFAS ASSET MANAGEMENT PVT LTD 1,12,06,793
    Rajeev Navinkumar Thakkar Director and CIO 41,93,843
    Neil Parag Parikh Chairman and CEO 12,41,577
    Kamlesh Mafatlal Somani Independent Director 96,867
    Rajesh Bhojani Director 76,225
    Arindam Ghosh Director 57,943
    Note: Holdings of Late Mr.Parag S. parikh are transmitted to Geeta Parag Parikh.
    Name Designation Number of units held
    Dhaval Sumantrai Desai Director 2,72,778
    Rajan Mehta Director 70,071
    P A Balasubramanian Director 56,962
    Note: These holdings include those of the individual as well as his immediate/dependent family members.
    Name Designation Number of units held
    Aalok Ramesh Mehta Head - Investor Relations 1,43,537
    Jayant R Pai Head - Marketing 87,632
    Raj Kirit Mehta Fund Manager - Debt 46,820
    Raunak Onkar Dedicated Fund Manager for overseas investments 31,782
    Shashi Menghraj Kataria Head - Accounts and taxation 17,463
    Raju H Shelat Head - Operations 16,663
    Mahesh Vishvanath Sarode Head Investor Relations - Distributor Channel 15,664
    Ranbir D.Nayal Head - IT Infrastructure 4,828
    Note: These holdings include those of the individual as well as his immediate/dependent family members.
    Name Number of units held
    Vaibhav Sunil Kapur 1,14,250
    Jignesh C Desai 23,306
    Ashok Pandurang Kerkar 18,152
    Nandan Madhiwalla 14,328
    Usha Dalsukhbhai Galia 10,576
    Neeta Milan Shukla 4,526
    Vinay Teli 3,579
    Ratnavathi Arun Puthran 3,143
    Malang Ahmad Shaikh 2,351
    Sanjay B Shroff 1,857
    Madhavi D Dey 1,422
    Bhavya Shah 1,420
    Shailendra Pandey 1,298
    Palak Kekul Dalal 1,293
    Pritam Mahendra Kijbile 972
    Chittara Acharya 677
    Mitesh Shailesh Shah 658
    Makwana Yatin Sureshbhai 297
    Frenzina Fernandes 59
    Note: These holdings include those of the individual as well as his immediate/dependent family members.


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