Appreciate your view. PPFAS has a high reputation and it’s good to see a contrarian view.
However, from the presentation, I personally didn’t feel like they were bad mouthing small cap funds. In fact, if at some point they figure that investing in small caps is the best thing to do for PPFAS, they can easily move part of their flexi cap portfolio into small caps. I don’t think they have to start a small cap fund to do so.
On the contrary, I feel like they made many good points in favour of small caps. For example, how they pointed out that some segments are only available in small caps. Or how they most small cap MF’s have outperformed the small cap index. I think the presentation makes it clear that for the right investor who can handle the massive drawdowns, investing in small caps is viable.
Thank you OP for sharing the same.
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