Parag Parikh Flexicap Fund to re-open for new subscription on March 15
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Last Updated: 13th December 2022 - 12:41 pm
The flagship fund of Parag Parikh MF would now be open to taking fresh investments from March 15. Read on to find out more.
Parag Parikh Flexicap Fund, which is the flagship fund of Parag Parikh Financial Advisory Services (PPFAS) mutual fund had stopped accepting fresh investments via Systematic Investment Plan (SIP), Lumpsum, Systematic Transfer Plan (STP) as well as switch in transactions. This was done as the industry had reached the industry-wide limit of investing in foreign securities which was seven billion dollars.
With our post on the stoppage of acceptance of fresh investments from Parag Parikh Flexi-Cap Fund, we had listed the alternative flexi-cap funds that you can consider apart from Parag Parikh Flexicap Fund. However, on March 10, 2022, a letter to unitholders from Rajeev Thakkar - CIO & Director, PPFAS Mutual Fund stated that they would be re-opening its flagship fund Parag Parikh Flexicap Fund for fresh investments on March 15, 2021.
He stated, “As of now we have no visibility on if/when and by how much the limit for overseas investments will be revised. As I write today, there is a conflict going on between Russia and Ukraine, Crude Oil prices have risen and the Indian Rupee has fallen somewhat. If and when the limits are increased, and if it is of a relatively small amount, the same will get exhausted soon. In such a scenario, having funds readily available will be advantageous rather than opening the scheme after the limit increase only to see the industry-wide cap get breached again.”
However, even though it accepts fresh investments, it would not be channelized as it was earlier. This time, they won’t be able to invest in foreign securities and the money invested post-re-opening would only be invested in the domestic market. This would result in a reduction in the overall exposure of foreign securities until there is an increase in the limit.
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