Parag Parikh Financial Advisory Services Mutual Fund (PPFAS MF) is looking to double its systematic investment plan (SIP) folios over the next two years and will shortly kick off an SIP awareness campaign.
Moreover, the fund house is looking at increasing its assets under management (AUM) from Rs 650 crore to Rs 750 crore over the next one year.
“We are currently focusing on SIP and as of now we are adding 3,087 folios under SIP on a monthly basis as on March 31, 2016 from 1,641 folios in the year-ago period, showing a growth of 88 per cent.
“Now we are planning to double the number of folios under SIP from its current level within the next couple of years,” PPFAS Chairman and Chief Executive Officer Neil Parikh told here.
“We are shortly starting an SIP awareness campaign, but I cannot divulge anything further on the campaign as it is still under planning stage,” he said.
Neil Parikh took over after his father and PPFAS MF founder Parag Parikh died in a car accident on May 3 last year in Omaha, US, where he had gone to attend the annual shareholder meeting of Warren Buffet’s Berkshire Hathaway Corporation.
At present, the company’s folios under SIP comprise 44 per cent of the total number of folios at 6,983, he said.