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PPFAS Mutual Fund cuts TER on direct plan of Parag Parikh Long Term Equity Fund

The new TER of 1.01 per cent will come into effect on October 15.

ET Online|
Updated: Oct 10, 2019, 11.34 AM IST
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PPFAS Mutual Fund has reduced the total expense ratio or TER on the direct plan of Parag Parikh Long Term Equity Fund by 10 basis points (100 basis points = 1 per cent), the fund house said. The new TER of 1.01 per cent will come into effect on October 15.

“Since inception in 2013, we have always striven to align the interest of our company with the interest of unitholders. Towards this end, most of us at PPFAS Mutual Fund have invested in Parag Parikh Long Term Equity Fund. We believe this has motivated us to engage in prudent fund management, thereby ensuring that we win only if you win,” said Neil Parag Parikh, Chairman & CEO, PPFAS Mutual Fund, while announcing the TER reduction.

“We have also consistently promised to reduce the expense ratio whenever the 'assets under management' (AUM) increased beyond certain predetermined thresholds, and actually done so as soon as those milestones have been attained. We are happy to announce that continuing with this trend, we are reducing the expense ratio for the direct plan,” he added.

Parag Parikh Long Term Equity Fund is the flagship scheme of PPFAS Mutual Fund. The scheme has been one of the consistent performers in the multi cap mutual fund category. The scheme has offered returns of around 7.09 per cent in the last one year, 9.99 per cent in the last three years, and 11.66 per cent in the last five years.

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