This is the Regular plan of Parag Parikh Liquid Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed monthly and paid out, which is why this NAV sits below the growth plan of the same fund.
This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.
View the Growth plan for compounded returns (+6.59% 3Y CAGR)NAV history
Scorecard
Not ratedHow this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.
Not enough Liquid Fund peers to rank yet
Volatility 1.7% (no category average yet)
0.2% expense (no category average yet)
55% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
No standout strengths identified.
Concerns
- Positive in only 55% of rolling 3-year windows
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Liquid Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.01% | — | — |
| 3M abs | -0.01% | — | — |
| 6M abs | -0.09% | — | — |
| 1Y CAGR | +0.03% | — | — |
| 3Y CAGR | -0.01% | — | — |
| 5Y CAGR | +0.01% | — | — |
Category average across peers in Liquid Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into Parag Parikh Liquid Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +0.07% | |
| 2025 | +0.01% | |
| 2024 | -0.06% | |
| 2023 | +0.04% | |
| 2022 | +0.03% | |
| 2021 | 0.00% | |
| 2020 | +0.02% | |
| 2019 | +0.01% | |
| 2018part | +0.22% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt95.96%
- Cash & Equivalents3.83%
Cash & cash-like: 10.12% — the 3.83% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹5,378Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
PPFAS Mutual Fund is run by PPFAS Asset Management, part of Parag Parikh Financial Advisory Services, and launched its first scheme in 2013. It is known for a value-oriented, low-churn approach, a deliberately small number of schemes, and holding overseas equities alongside Indian ones.
Fund Managers
TSTejas SomanManaging since 01 Sep 2025
Chief Investm ent Officer - Debt & Fund Manage r - Debt
Mr. Tejas Soman has spent over a decade in the fixed income markets. Prior to PPFAS, He worked with SBI Funds Management Ltd. as a Fund Manager, where he managed a range of fixed income portfolios. He has also worked with Yes Bank in its primary dealership unit, STCI Primary Dealership, and PricewaterhouseCoopers in tax and regulatory advisory. He holds his post-graduation in securities markets from National Institute of Securities Markets (NISM).
MKMansi KariyaManaging since 22 Dec 2023
Associate Vice President & Fund Manager- Debt
Ms. Kariya is a Fund Manager - Debt with effect from December 22, 2023 She had joined PPFAS Asset Management Private Limited in 2018 as Debt Dealer. In her previous roles, she has also worked as a research associate and senior executive debt products for 3.5 years.
ADAishwarya DharManaging since 01 Sep 2025
Senior Manager Debt Dealer & Fund Manager Debt)
Ms. Aishwarya has started her career with Tata AIA Life Insurance Co. Ltd as Executive Finance from September 2012 till May 2015 and handled Accounts Payable & Procurement. She had further joined the Debt Dealing team in Manipal Cigna Health Insurance Co. Ltd. as Deputy Manager - Dealer Portfolio from June 2015 till March 2021. She had a total experience of 8 Years and 6 months in the Financial Service Industry. Ms. Aishwarya Dhar was appointed as a Debt Dealer for the Schemes of the PPFAS Mutual Fund in March 2021. She was appointed as Fund Manager - Debt with effect from September 1, 2025
Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
PPFAS in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
PPFAS AMC announces addition of new branch office
Investment Guru India · 10d ago
PPFAS and SBI MF among 6 mutual funds with over Rs 10,000 crore cash in August
The Economic Times · 17d ago
PPFAS Tax Saver vs Flexi Cap Fund: Same stocks but different returns. Which one performed better and why
livemint.com · 25d ago
PPFAS Flexi Cap, Large Cap funds can now invest in gold, silver ETFs: What changes for investors
Business Today · 01 Sep 2026
Overlapping 39 stocks: How Rajeev Thakkar’s two PPFAS equity schemes stand apart
Business Today · 31 Aug 2026
PPFAS Mutual Fund announces feature changes across 5 funds, including flexicap, largecap
livemint.com · 29 Aug 2026
PPFAS Mutual Fund announces feature changes across 5 funds, including flexicap, largecap
The Economic Times · 28 Aug 2026
PPFAS GIFT reduces minimum investment in its two outbound passive funds to $500
The Economic Times · 25 Aug 2026
Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Liquid funds
Liquid funds invest in very short-term debt (maturing within 91 days). They're used to park money for days or weeks — low risk and easy to redeem, but low return too.
Frequently asked questions
What is the NAV of Parag Parikh Liquid Fund?
As of 04 Oct 2026, the NAV of Parag Parikh Liquid Fund is ₹1,004.23 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Parag Parikh Liquid Fund delivered?
Parag Parikh Liquid Fund has returned +0.03% over 1 year, -0.01% per year over 3 years, +0.01% per year over 5 years and +0.04% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of Parag Parikh Liquid Fund?
Parag Parikh Liquid Fund charges an expense ratio of 0.21% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of Parag Parikh Liquid Fund?
Parag Parikh Liquid Fund's largest holdings are 91 Days Tbill (MD 03/09/2026) (7.4%), NTPC Limited (23/09/2026) (4.8%), Union Bank of India (24/09/2026) (4.1%), Bank of Baroda (15/09/2026) (3.7%) and Export Import Bank of India (09/09/2026) (3.7%). Holdings are disclosed monthly and change over time.
How risky is Parag Parikh Liquid Fund?
Parag Parikh Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.7% and its worst peak-to-trough fall in our sample was -0.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of -3.91 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Parag Parikh Liquid Fund's -3.91 means it has not compensated investors for its volatility over the window. Higher is better.
What is the benchmark of Parag Parikh Liquid Fund?
Parag Parikh Liquid Fund is benchmarked against the CRISIL Liquid Debt A-I Index. Its alpha and beta on this page are measured against that index.
Who manages Parag Parikh Liquid Fund?
Parag Parikh Liquid Fund is managed by Tejas Soman, Mansi Kariya and Aishwarya Dhar at PPFAS.
How is Parag Parikh Liquid Fund taxed?
Parag Parikh Liquid Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.