Mumbai: PPFAS Mutual Fund on Monday announced the launch of the Parag Parikh Large Cap Fund, an open-ended equity scheme predominantly investing in large-cap stocks.

The new fund offer (NFO) opened on January 19 and will close on January 30, while the scheme will reopen for continuous sale and repurchase from February 6. The Nifty 100 TRI will serve as the scheme's benchmark.

The fund aims to provide cost-efficient exposure to large-cap equities by maintaining portfolio positioning close to the benchmark and managing trading costs. The minimum investment is Rs 1,000, with no entry or exit load. The scheme will offer Direct and Regular plans with growth and income distribution options.

Chairman and CEO Neil Parag Parikh said the fund was designed to meet investor demand for transparent and low-cost large-cap products. The scheme will be managed by a team of six fund managers, the fund house said.