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PPFAS Flexi Cap Raises BER as IT Exposure Climbs
The Parag Parikh Flexi Cap Fund changed its investments only a little between February and July 2026.
It kept about 40 holdings and had low portfolio turnover of 6%.
The fund put more money into equities, increasing that share from 76% to 81%.
Its biggest increase was in IT-Software companies, which rose from 6.9% to 10.3% of the portfolio.
Banks remained the largest industry exposure at about 20%.
HCL Technologies gained the most weight among individual holdings.
Power Grid Corporation lost the most weight.
The fund performed worse than its benchmark over the short term.
Over five years, however, it had a higher annualized return than the benchmark.
PPFAS Flexi Cap Fund’s BER is set to rise from August 25, although the revised rate is not specified.
The fund’s assets under management exceeded ₹1.48 lakh crore as of July 31, 2026.
IT-Software exposure increased from 6.9% in February to 10.3% in July, while equity allocation rose from 76% to 81%.
The portfolio remained stable at 40 holdings in February and July, with three buys, two complete exits and 6% turnover.
The fund underperformed the Nifty 500 TRI over three- and six-month periods but exceeded it on a five-year CAGR basis.
- Who
- Parag Parikh Flexi Cap Fund and its asset management company.
- What
- The fund is raising its BER from August 25 and has shifted parts of its portfolio toward IT and equities.
- Where
- When
- The portfolio comparison covers February through July 2026; the BER change begins August 25.
- Why
- The article reports the fund’s recurring-cost change and its portfolio allocation and performance during the period.
Short-Term Performance Concerns
Long-Term Performance Strengths
Performance versus benchmark
Short-Term Performance Concerns
The fund recorded negative alpha of 4.8% over three months, 3.6% over six months and 5.9% over one year against the Nifty 500 TRI.
Long-Term Performance Strengths
The fund recorded positive alpha over two through five years, including 1.3% over five years, and its five-year CAGR was 13.4% versus 12.1% for the Nifty 500 TRI.
Key facts
- Assets under management
- More than ₹1.48 lakh crore as of July 31, 2026
- BER effective date
- August 25; the revised rate was not specified
- Equity allocation
- Rose from 76% in February to 81% in May and remained there through July
- IT-Software allocation
- Rose from 6.9% to 10.3%, a 3.4-percentage-point increase
- Portfolio turnover
- 6% between February and July 2026
- Largest July holding
- HDFC Bank at 7.5%
- Five-year performance
- 13.4% CAGR versus 12.1% for the Nifty 500 TRI
Sources
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