My job is to create HNIs, not to chase them, says Parag Parikh

In an interview, Parag Parikh, the founder of the boutique advisory and Portfolio Management Service firm which is launching the fund, says he would rather not chase assets under management and instead, focus on delivering value for the client. PPFAS Asset Management Private Limited, the wholly owned subsidiary of Parag Parikh Financial Advisory Services Limited recently received Securities & Exchange Board of India clearance to launch its flagship scheme, PPFAS Long Term Value Fund, which will be a diversified equity fund without any sectoral or market-cap bias. The fund house, the latest entrant in a long and crowded list of fund management companies, makes it clear that investors looking for short term gains would not find its scheme a suitable tool. Then we thought that MF being a much better asset class, if we have to look at our clients’ interest, would it be right for us to tell them to put money in the PMS when there exists a better alternative?