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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 31-12-2016 = 4,69,20,962.
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The market value of these holdings as on 18-01-2017 is Rs. 88,29,58,661. This amounts to 13.27% 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 .

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 December 31, 2016

    Name Designation Number of units held
    Suneel Rasmikant Gautam Director 1,03,49,319
    Sahil P Parikh Director 11,59,933
    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 - 1,75,34,178
    PPFAS ASSET MANAGEMENT PVT LTD 1,12,00,618
    Rajeev Navinkumar Thakkar Director and CIO 38,74,928
    Neil Parag Parikh Chairman and CEO 12,10,774
    Kamlesh Mafatlal Somani Independent Director 88,723
    Rajesh Bhojani Director 66,266
    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 4,406
    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 1,21,408
    Jayant R Pai Head - Marketing 73,080
    Raj Kirit Mehta Fund Manager - Debt 44,717
    Raunak Onkar Dedicated Fund Manager for overseas investments 29,178
    Shashi Menghraj Kataria Head - Accounts and taxation 13,506
    Raju H Shelat Head - Operations 12,585
    Ranbir D.Nayal Head - IT Infrastructure 2,500
    Note: These holdings include those of the individual as well as his immediate/dependent family members.
    Name Number of units held
    Vaibhav Sunil Kapur 1,49,052
    Jignesh C Desai 21,666
    Ashok Pandurang Kerkar 15,719
    Nandan Madhiwalla 11,660
    Usha Dalsukhbhai Galia 9,422
    Mahesh Vishvanath Sarode 8,543
    Sanjay B Shroff 7,403
    Neeta Milan Shukla 4,472
    Vinay Teli 3,480
    Ratnavathi Arun Puthran 2,545
    Madhavi D Dey 2,539
    Malang Ahmad Shaikh 1,906
    Arun Kumar Yadav 1,641
    Bhavya Shah 977
    Pritam Mahendra Kijbile 972
    Palak Kekul Dalal 881
    Ninad Chandrakant Bhosle 710
    Mitesh Shailesh Shah 658
    Shailendra Pandey 650
    Chittara Acharya 327
    Radheshyam Sahani 298
    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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