PPFAS Long Term Value Fund

(An Open Ended Equity Scheme)

Factsheet
October 2015

A scheme designed for genuine

Long Term Investors!
Name of the
Fund
Investment
Objective

PPFAS Long Term Value

Fund

About the Fund

To seek to generate
longterm capital growth
from an actively
managed portfolio
primarily of equity and
equity related
securities.

PPFAS Long Term Value Fund (PLTVF) is an open ended equity oriented scheme with
flexibility to invest a minimum of 65% in Indian equities and up to 35% in overseas
equity securities and domestic debt / money market securities.

Type of the
Scheme

An Open Ended Equity

Scheme

Date of
Allotment

May 24, 2013

Name of the
Fund Manager

Assets Under
Management
(AUM) as on
October 30,
2015
Average AUM
for the Month
Net Asset
Value (NAV)
as on
October 30,
2015
Exit Load

Weighted
Average
Expense Ratio
Benchmark
Index
Minimum
Application
Amount

Mr. Rajeev Thakkar Equity Fund Manager

(Overall 12 years of
experience in fund
management)
Mr. Ruchak Mehta Debt Fund Manager
(Since December 31,
2014)
Mr. Raunak Onkar Fund Manager for
Overseas Securities
(Since Inception)

The core portfolio of PLTVF consists of equity investments made with a long term outlook
and the factors considered while investing are quality of management, quality of the
sector and the business (return on capital, entry barriers, capital intensity, use of debt,
growth prospects etc) and the valuation of the companies. The endeavor of the fund
management team is to identify opportunities for long term investments. However
there are times when the opportunities are not attractive enough. While waiting for
attractive opportunities, the fund invests in arbitrage opportunities between the cash
and futures equity markets and special situations arbitrage where open offers /
delisting / merger events have been announced. Investments are also made in money
market / debt securities while waiting for deployment in core equity investments.

Foreign equity investments

The fund invests in foreign equity securities. Since investors in PLTVF look for capital
investment and returns in Rupee terms, PLTVF also looks at delivering in Rupee terms.
PLTVF hedges most of the currency exposure using currency futures.

` 630.98 Crores

Outlook
` 611.51 Crores

Regular Plan: 17.0911

Direct Plan: 17.2922

Exit Load is changed

w.e.f. July 7, 2014. You
are requested to refer
to the SID (Page 87).
Regular Plan: 2.50%*
Direct Plan: 2.00%*
* Excluding Service Tax

CNX 500
New Purchase: ` 1,000
Additional Purchase:
` 1,000
Monthly SIP: ` 1,000
Quarterly SIP: ` 5,000

As usual, our investment stance does not depend much on the macro-economic
situation but is focussed on individual companies. We have about 13-14 % in cash
holdings and arbitrage positions which can be deployed in long term investments at
appropriate levels.
It is futile to predict market bottoms / tops or to time the market. One's investment
horizon should be long enough to ride out the volatility. A staggered investment over
time or a Systematic Investment Plan (SIP) is always better than a lump sum investment.

PPFAS LONG TERM VALUE FUND

FACTSHEET OCTOBER 2015

Portfolio Disclosure

Sectoral Allocation

Core Equity
% of Net
Assets

Name

Sector

Maharashtra Scooters Ltd

Auto Ancillaries

8.08%

ICRA Ltd

Finance

5.48%

Zydus Wellness Ltd

Consumer Non Durables

4.91%

Axis Bank

Banks

4.35%

ICICI Bank Ltd

Banks

3.96%

Hotels

3.55%

Banks

3.51%

Mahindra Holidays & Resorts

India Ltd
HDFC Bank
Noida Toll Bridge Co Ltd

Transportation

3.45%

Persistent Systems Ltd

Software

3.36%

IL&FS Investment Managers

Finance

3.23%

Indraprastha Gas Ltd

Gas

2.74%

Mphasis Ltd

Software

2.73%

Gujarat Gas Ltd

Gas

2.63%

Balkrishna Industries

Auto Ancillaries

2.37%

IPCA Laboratories Ltd

Pharmaceuticals

2.28%

Pfizer Ltd

Pharmaceuticals

1.36%

Selan Exploration Technology

Ltd

Oil

0.64%

MT Educare Ltd

Diversified Consumer
Services

0.39%

Arbitrage

Cash & Cash

Equivalent:
1.09%

Pharmaceuticals
3.64%
Oil : 0.64%
Brewers
Industrial Conglomerates
1.01%
2.89%

Diversified Consumer
Services: 0.39%

Packaged Foods
2.94%

Banks

IT Consulting &
Other Services

12.46%
Finance

3.04%

Arbitrage/
Special Situation

8.71%
6.13%

Software

6.09%

4.25%

Transportation 3.45%
5.37%
Gas
10.45%
Auto
Ancillaries

12.30%

6.69% 4.91%

Logistics

Internet &
Technology

Hotels: 3.55%

Consumer
Debt & Money Non-durables
Market Instruments

Quantitative Indicators
Beta

0.55

Standard Deviation

11.21%

Sharpe Ratio

Yes Bank Ltd*

3.37%

Cipla Ltd*

1.56%

State Bank of India*

1.20%

Total

65.15%

1.66

Portfolio Turnover

21.43%

- Above figures are annualised.

- Risk free rate assumed to be 6.79% (Overnight MIBOR as on 30th
October, 2015)

Overseas Securities, IDRS and ADRs

Google - C Class #

Internet & Technology

12.30%

United Parcel Services INC #

Logistics

4.25%

International Business
Machines Corp #

IT Consulting & Other

Services

3.04%

Nestle SA ADR #

Packaged Foods

2.94%

3M Co#

Industrial Conglomerates

2.89%

Anheuser Busch Inbev SA

ADR

Brewers

1.01%

Standard Chartered PLC

Banks

0.37%

Scheme

24.71%

17,091.1

Standard Chartered PLC IDR

Banks

0.27%

CNX 500

15.52%

14,193.4

27.07%

CNX Nifty

12.32%

13,259.3

Sensex

12.49%

Total
Debt and Money Market Instruments

Performance of the Scheme

NAV as on Oct. 30, 2015 - Direct : 17.2922, Regular : 17.0911
Since Inception (CAGR %)
Particulars

Regular

5.74%

FDR

0.95%

Scheme

Invested Total

98.91%
1.09%

Net Assets
# Currency hedge to the extent of approximately 90% of exposure.
* Hedged by offsetting derivative position

100.00%

Regular

13,307.9
1 Year

CBLO

Cash and Cash Equivalent

Current Value of
Investment of `
10,000

Returns (%)

15.20%

11,520.4

CNX 500

0.98%

10,097.5

CNX Nifty

-3.08%

9,691.9

Sensex

-4.34%

9,566.1

Greater than one year returns are compounded Annualised Returns.

* Past performance may or may not be sustained in future.

PPFAS LONG TERM VALUE FUND

FACTSHEET OCTOBER 2015

PLTVF Vs Benchmark Indices

Our scheme's returns since inception, compares well with those of the three key indices.
Since Inception

Last One Year

Benchmark Returns (CNX 500)

PLTVF Returns

Sensex Returns

Nifty Returns

110

100

Scheme: 15.20%, CNX 500: 0.98%,

Nifty: -3.08%%, Sensex: -4.34%

90

Jul 13

80
Oct 14

Oct 13 Jan 14 May 14 Aug 14 Dec 15 Mar 15 Jun 15 Oct 15

Jan 15

Apr 15

Jul 15

Oct 15

Source: bseindia.com, nseindia.com

Current Value of Investment of Rs. 10,000

Last One Year

Since Inception

4000

4000

2000

2000

9566.10

6000

6000

9691.90

8000

10097.50

8000

10000

11520.40

10000

12000

13307.90

12000

14000

13259.30

14000

14193.40

16000

17091.10

18000

CNX 500

CNX Nifty

Sensex

0
Scheme

CNX 500

CNX Nifty

Sensex

Scheme

Systematic Investment Plan Returns

We have maintained that investing through
Systematic investment Plans (SIPs) is the best way
to remove the effect of emotions from the investing process.
This graph depicts that it can be an effective
way to build your corpus too.

` 3,78,757/` 2,90,000/-

Assumption : ` 10,000/- is invested

on the first of every month from
June 1, 2013 to October 30, 2015.

Jun 13
Note:
Scheme returns are for Regular Plan
Past performance may or may not be sustained in future.

Oct 13

Feb 14

Jun 14

Oct 14

Feb 15

Jun 15

Oct 15

PPFAS LONG TERM VALUE FUND

FACTSHEET OCTOBER 2015

We have our Skin in the Game

The combined holding of 'Insiders' in PPFAS Long Term Value Fund amounts to 11.34% of the AUM as at October 30, 2015. For more details
please visit the 'Scheme' section of our website.

Definitions
Fund Manager

An employee of the asset management company such as a mutual fund or life insurer, who manages investment of the scheme. He is usually part of a larger team of
fund managers and research analysts.

Application amount for

fresh subscription

This is the minimum investment amount for a new investor in a mutual fund scheme.

Minimum additional
amount

This is the minimum investment amount for an existing investor in a mutual fund scheme.

SIP

SIP or systematic investment plan work on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an
investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years.

NAV

The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the
end of every business day. It is the value at which the investor enters or exits the mutual fund.

Benchmark

A group of securities, usually a market index whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among
other investments. Some typical benchmark include the Nifty, Sensex, BSE200, BSE500, 10-year Gsec.

Exit Load

Exit load is charged at the time of redeeming (or transferring an investment between schemes). The exit load percentage is deducted from the NAV at the time of
redemption (or transfer between schemes). This amount goes to the scheme.

Standard Deviation

Standard deviation is a statistical measure of the range of an investment is performance. When a mutual fund has a high standard deviation, its range of performance
is wide implying greater volatility.

Sharpe Ratio

The Sharpe Ratio named after its founder, the Nobel Laureate William Sharpe is a measure of risk-adjusted returns. It is calculated using standard deviation and
excess return to determine reward per unit of risk.

Beta

Beta is a measure of an investment's volatility vis-a-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater
than 1 implies that the security's price will be more volatile than the market.

AUM

AUM or assets under management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm.

Holdings

The holding or the portfolio is a mutual fund's latest or updated reported statement of investments/securities. These are usually displayed in term of percentage to net
assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager.

Nature of Scheme

The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance a mutual fund that aims at generating capital
appreciation by investing in stock markets is an equity fund or growth fund. Likewise a mutual fund that aims at capital preservation by investing in debt markets is a
debt fund or income fund. Each of these categories may have sub-categories.

Portfolio Turnover Ratio

A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by taking either the total amount of new
securities purchased or the amount of securities sold - whichever is less - over a particular period, divided by the total net asset value (NAV) of the fund. The
measurement is usually reported for a 12-month time period.
Riskometer

Hi
gh

Low
LOW

Investors should consult their financial advisers if in doubt about whether this scheme is suitable for them.

PPFAS Asset Management Private Limited

Great Western Building, 1st Floor, 130/132,
Shahid Bhagat Singh Marg, Near Lion Gate, Fort,
Mumbai - 400 001. INDIA.
Sponsor: Parag Parikh Financial Advisory Services Private Limited

Moderate

Scheme shall be investing in Indian equities, foreign equities and related instruments and debt securities.

ely
at
er w
Lo

Hig

The investment objective of the Scheme is to seek to generate long-term capital growth from an actively managed portfolio
primarily of Equity and Equity Related Securities. Scheme shall invest in Indian equities, foreign equities and related
instruments and debt securities.

M
od

Investment Objective of the Scheme

HIGH

Investors understand that their principal

will be at moderately high risk.

www.amc.ppfas.com

Investor Helpline

Distributor Helpline

91 22 6140 6537

91 22 6140 6538

Email: ppfasmf@ppfas.com Website: www.amc.ppfas.com

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Disclaimer: In the preparation of the material contained in this document, the Asset Management Company (AMC) has used information that is publicly available, including information developed in-house. Some of the
material used in the document may have been obtained from members/persons other than the AMC and/or its affiliates and which may have been made available to the AMC and/or to its affiliates. Information gathered
and material used in this document is believed to be from reliable sources. The AMC however does not warrant the accuracy, reasonableness and / or completeness of any information. We have included statements /
opinions / recommendations in this document, which contain words, or phrases such as will, expect, should, believe and similar expressions or variations of such expressions that are forward looking statements.
Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general
economic and political conditions in India and other countries globally, which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence
in interest rates, foreign exchange rates, equity prices or other rates or prices etc.
The AMC (including its affiliates), the Mutual Fund, the trust and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive,
special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on this material.