Parag Parikh Flexi Cap Fund January 2023 factsheet has been released by the fund house. Open-ended equity fund the Parag Parikh Flexi Cap Fund, formerly the Parag Parikh Long Term Equity Fund, makes investments in businesses with big, mid-sized, and small capitalizations. The Parag Parikh Flexi Cap Fund stands apart from other plans in the same category due to its exposure to international stocks.
As of January 31, 2023, the 1-year return of Parag Parikh Flexi Cap Fund has been minus 1.99% as against a return of 1.28% of Nifty 500 and 3.18% of Nifty 50.
The total AUM for the Parag Parikh Flexi Cap Fund (PPFCF), as of January 31, 2022, was Rs 29,344.83 Crores. The fund has about 15.50% in cash holdings, debt and money market instruments and arbitrage positions which can be deployed in long term investments at appropriate levels.
The fund invests in foreign equity securities. Since investors in PPFCF look for capital investment and returns in Rupee terms, PPFCF also looks at delivering in Rupee terms. PPFCF hedges most of the currency exposure using currency futures.
As of October 31, 2022, the total exposure to foreign stocks was 16.49%, which fell to 15.59% in November and by December end it has settled at 15.51%. By January 31, the total exposure to foreign stocks stood at 16.35%.
Alphabet Inc. (4.88%), Microsoft Corporation, 4.84%, Meta Platforms Inc. (Formerly Facebook Inc.), 2.43%, Amazon, 3.61%, and Suzuki Motor Corp. (0.59%) are among the foreign investments held by the Parag Parikh Flexi Cap Fund as of January 31, 2023.
Also Read: Parag Parikh Flexi Cap Fund December factsheet; check exposure to foreign stocks
As of January 2023, 68.15% of the total corpus was invested in Indian equities. The fund has also taken Arbitrage positions in some portfolio stocks. The total exposure after arbitrage is 71.80%. The top 3 sectors for Parag Parikh Flexi Cap Fund are Finance, Internet & Technology and banks – 15.37% allocation is in the Finance sector, 12.15% is in Internet & Technology and 10.87% is in banks. Within the Indian equity allocation, the top 5 companies with over 5% allocation include Housing Development Finance Corporation 8.01%, Bajaj Holdings & Investment 7.24%, ITC 7.29 %, ICICI Bank 5.53% and Axis Bank 5.34 %. HCL Technologies and Coal India have exposure of 5.68% and 4.95% respectively.
