Parag Parikh Global Investing Strategy

PMS

Equity

Multi / Flexi Cap

International

Aggressive Growth

Investor Profile

1 - 5 YearsInvestment Horizon

HNITarget Segments

IFSCA-regulated PMS (PPFAS Alternate Asset Managers IFSC Pvt Ltd, FME Retail, Reg. No. FDM2025FMR0814)Regulatory Fit

PPFAS’s value-investing approach, applied to global stocks held directly in your name, in USD.

What This Strategy Does

Suits resident Indian HNIs with a growth or aggressive risk profile, a 5+ year horizon and enough surplus to commit USD 75,000 (≈ ₹65L) without over-concentrating. Best treated as a slice of overall equity, not a replacement for core India equity. Not suitable for clients who may need the money within 2 years, who are uncomfortable with currency swings, or who would struggle with foreign tax filing (Schedule FA, Form 67).

Role in a Diversified Portfolio

Diversification against country risk. In past Indian market drawdowns, global markets (MSCI World IMI) often held up better, so adding them can reduce overall portfolio swings. It also gives a natural USD hedge for clients with future foreign spending (education abroad, travel, overseas property).

CW Expert Research Notes

Is this the right fit for you?

If most of your equity is already in India, this strategy helps you reach the 95%+ of world markets your portfolio may be missing. Think of it as a complement to your India investments, not a replacement. Since the strategy is new, consider starting with a measured amount and reviewing it after 12–24 months of performance before adding more.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Detailed Risks

Currency risk

Your money is invested in USD. When the rupee weakens against the dollar, your returns in rupees go up; when the rupee strengthens, they come down. Over long periods the rupee has generally weakened, but plan for both outcomes, especially if you may need the money back in rupees soon.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Global value investing. It buys quality businesses worldwide at sensible prices: cash-generating, low-debt companies with strong competitive moats and shareholder-friendly management, bought with a margin of safety.

Broader Market View

Why look beyond India

India makes up about 4% of the world’s stock market value, while the US alone is about 49%. The two don’t always move together: between Sep 2024 and Mar 2025, Indian markets (Nifty 500) fell about 19% while global markets (MSCI World IMI) rose about 4%. Holding both can help steady your overall portfolio when one market is going through a tough phase.

Investment Style & Process

How your money is managed

The portfolio manager decides what to buy and sell on your behalf. This is a discretionary service, so you don’t need to approve each trade. Companies are chosen one at a time, based on business quality and price rather than market predictions, and spread across sectors and countries. The stocks are held directly in your name, so you can see exactly what you own.

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Akshay Falgunia

Akshay Falgunia is a Chartered Accountant and holds a Bachelor’s degree in Commerce from Gujarat University. He is an investment professional with over 7 years of experience in equity research, covering a wide range of sectors across Indian and global markets. Throughout his career, he has developed a deep understanding of financial analysis, market dynamics, and strategic insights.

Manager's Investment Philosophy

Partner with shareholder-friendly managements; own businesses, not stocks; prefer cash-generating, low-debt companies with strong moats; buy with a margin of safety.

CW Expert Take

PPFAS has a long record of disciplined value investing. It was among the first PMS licence holders in India (1996) and has run overseas allocations in Parag Parikh Flexi Cap for years, under CIO Rajeev Thakkar. This strategy is new, though: it is run from the GIFT City entity has no track record yet. Led by Akshay Falgunia (CA, 7+ years in equity research), under CIO Rajeev Thakkar Positives: the philosophy is proven and the investment process is clear. To watch: the first 1–3 years of performance, the benchmark choice, and how closely it follows the stated process.

Investment Philosophy & Approach

Owning good businesses at fair prices

The approach rests on five simple ideas: back management teams that treat shareholders fairly; invest like a business partner, not a trader; prefer companies that generate cash and carry little debt; look for businesses with lasting competitive strengths; and never overpay. This approach usually rewards patience more than short-term activity.